Ed Ludlow

Trade uncertainty.

That's as President Trump reshapes his global tariff policy, signaling a potential 15% rate.

Now, that debate is front and center in Washington when the National Association of Business Economics is a gathering of leading economists.

is underway.

And where the Supreme Court's ruling on Trump's tariff authority is probably a key focus.

Bloomberg International Economics and Policy Editor Michael McKee joins us now.

And look, the theme of the gathering is actually the great realignment, navigating AI, demographic, and geoeconomic shifts.

Let's focus on geoeconomic shifts first, Mike.

What's everyone discussing?

Well, everybody's trying to figure out where this is all going and what it will lead to.

And there's not a lot of consensus on it yet.

The Fed Governor Christopher Waller spoke this morning and said it's very uncertain to them.

He's going to give a major speech tomorrow.

Also, Fed Governor Lisa Cook is talking on AI here tomorrow.

Today, we've got some workshops with people from AI companies.

There's one underway right now, Peter McCrory of Anthropic.

He is their chief economist.

is talking about their economic index and their efforts to track the impacts that AI is having on the labor market, and basically saying the same thing that everybody's saying.

It's a major impact, but it's uncertain where they're going for right now.

And it's uncertain what kind of effects it will have on productivity and on the labor market.