What said Treasury Secretary Scott Bessent at the Milk event (and how his critics responded)

• To CEO today daily: Diane Brady at the Milken Institute Global Conference in Los Angeles.
• The great story: The Trump movie tax may have the opposite effect of the expected.
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Nice day From the Milken Institute Global Conference in Los Angeles, an annual meeting of policymakers and leaders focused on finance, philanthropy and health. This intersection causes that there are interesting juxtapositions where university and Ob Leaders who feel the pain of Trump’s administration policies mix with investors who see opportunities for profit. Elon Musk He spoke about DOGE and the future of humanity at a private meeting, an assistant told me, not necessarily in this order. At my dinner last night, the speakers went from the power network to power politics.

Of course, the rates are still on the head. Although Treasure Secretary, Scott Bessent, told an audience that trade, tax cuts and deregulation would promote the prosperity of the United States, how and when this will happen is not yet clear. (My partner Jeff John Roberts has a Deeper analysis of Bessent’s observations.) On the panel that followed, Cytigroup CEO Jane Fraser said that bank customers could accept 10% of rates, compared to 25% and expect certainty. BCG Global Chair Rich Lesser advises its customers to focus on price strategies and productivity: “Taking advantage of the IA, the adaptation of creation, this is essentially the movements without a rule”.

Many of the investors I have talked about here trust that it is a good time to make money. When it comes to opportunistic credit investments, Victor Khosla, of strategic value partners, said that “we were very busy last year and got much more busy.”

John Koudounis, CEO of Calamos Investments an ETF bitcoin protected by capital This year to take advantage of the renewed interest in the cryptocurrencies in the midst of Trump’s support. “We would like to bring more people to the class of assets,” he said “If we look at the mother and the average pop, they are afraid.”

Who can blame them? As AON’s CEO, Greg Case said, “We are not enough about risk connectivity,” examining the impact of trends on trade, technology, climate and workforce. “We continue to see the value of working together, public and private. When it works, it is incredible.”

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Contact CEO daily through Diane Brady at Diane.brady@fortune.com

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