Bloomberg Talks
00:11:08 · Carol Massar, Rick Wurster, Tim Stenovec, S2
[00:11:08] S0: Why does it always feel so bad, though? [00:11:10] S1: Well, there's always things to be concerned about. And the market doesn't love uncertainty. And the midterms create uncertainty. But we'll get past that soon. And if you look at the past midterms, 19 of the last 19 midterms, after we've got through them, the market's gone up. So maybe we'll make it 20 in a row. But, yes, there's been uncertainty. But I think what's kept the markets continuing to go... is that the economy's strong, you're seeing incredible productivity growth, this birth of AI that's driving a lot of incredible level of investment, certainly level of investments I've never seen in my career. So fundamentally, there's a lot of great things happening. [00:11:45] S0: What's one risk that you keep on your mind? [00:11:49] S1: I think to me the biggest risk is inflation because the way inflation could hurt the markets is if bond yields continue to go up, there's a lot of debt in the world. And so that debt becomes more expensive. The discount rate on equities becomes higher. And so I think inflation is something to watch. [00:12:08] S0: Yeah, and it seems to be a little bit persistent, right? Thank you so much. [00:12:12] S1: Thanks for having me on. I always love coming on and seeing you too. I always have a great time. [00:12:16] S3: We have fun with you too. [00:12:17] S2: Thanks, Rick. It's always good to see you. Thank you. [00:12:19] S0: Rick Wurster, of course, President and CEO of Charles Schwab Corporation.