Name: Trump: AI ‘Taking Over the World...is a Hoax'
Uploaded: 2026-09-14T23:21:29+00:00
Duration: 3088 s

Speakers

Douglas Holtz-Eakin — President, American Action Forum; Former Director, Congressional Budget Office

Chris Kennedy — Economic Statecraft Lead, Bloomberg Economics

Steven Cook — Senior Fellow, Council on Foreign Relations

David Sacks — General Partner, Craft Ventures

Jess Menton — Bloomberg senior equities reporter

Kailey Leinz — Bloomberg Reporter

Erik Wasson — Bloomberg Reporter

Summary

The episode covers President Trump's dismissal of AI safety warnings as a hoax, congressional debates over AI regulation, crypto legislation, and Russian sanctions, and a $5,000 dividend check proposal. Economist Douglas Holtz-Eakin argues the Fed should raise rates to fight inflation and restore credibility, while warning about fiscal risks. Energy analyst Chris Kennedy and Middle East expert Steven Cook discuss supply disruptions that are pressuring diesel and refined product prices.

Trump and David Sacks push back on AI safety concerns, opposing new regulation and warning against falling behind China.
Congress returns to a packed agenda including AI oversight, crypto Clarity Act, Russian sanctions, and appropriations.
Douglas Holtz-Eakin says the Fed should hike rates this week because inflation remains the key mandate risk.
Holtz-Eakin warns the $5,000 dividend checks and U.S. debt trajectory risk inflation and higher borrowing costs.
Chris Kennedy says diesel prices are elevated due to pipeline shutdowns, Russian refinery attacks, and low inventories.
Steven Cook says stalemate over Strait of Hormuz passage could keep refined product prices rising.
Political panel discusses AI regulation as a midterm issue and ethics questions around the first family.

Ideas

Douglas Holtz-Eakin President, American Action Forum; Former Director, Congressional Budget Office 15:02

Fed hike would lower long-end yields

The Fed should raise rates this week because inflation is the central problem, the employment mandate is satisfied, and core inflation is heating up. A failure to hike would undercut the Fed's credibility and the new chair's credentials. He argues a credible hike at the short end would send a message and bring long-end yields down, making long-dated Treasuries attractive.

Chris Kennedy Economic Statecraft Lead, Bloomberg Economics 35:23

Diesel supply shocks push prices higher

Diesel prices are being driven higher by multiple supply shocks: the Saudi East-West pipeline shutdown and Red Sea/Houthi threats are reducing product flows out of the Persian Gulf, attacks on Russian refining have contributed 40-50% of lost traded diesel, global stockpiles are depleted, and China is refining less. With the U.S. now the world's largest diesel exporter, domestic prices face building upward pressure.

Steven Cook Senior Fellow, Council on Foreign Relations 43:00

Hormuz stalemate lifts refined product prices

He expects a stalemate in negotiations over passage through the Strait of Hormuz because Iran wants significant control and Saudi Arabia and others will not allow it. This will keep supply risk elevated and lead to a run-up in diesel and other refined product prices.

This Bloomberg Markets video, published September 14, 2026, features Douglas Holtz-Eakin, Chris Kennedy, Steven Cook discussing US 30-year Treasuries, HO=F, XLE. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Douglas Holtz-Eakin, Chris Kennedy, Steven Cook · Tickers: US 30-year Treasuries, HO=F, XLE

Trump: AI ‘Taking Over the World...is a Hoax'

Summary

Ideas

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