What's happened
The Milken Institute Global Conference kicks off today in Beverly Hills, featuring key speakers like Treasury Secretary Scott Bessent. However, Citadel's Ken Griffin faces a competing event organized by Trump advisor Ric Grennell, highlighting tensions between globalists and nationalists amid criticism of Trump's policies.
What's behind the headline?
Key Dynamics at Play
- Rival Events: Ken Griffin's traditional welcome soirée is now challenged by Grennell's exclusive gathering, indicating a split among elite circles.
- Political Tensions: Griffin's criticism of Trump's tariffs has alienated him from the administration, leading to this competitive atmosphere.
- Economic Implications: The conference's discussions will be heavily influenced by Bessent's remarks on the global economy, which could sway investor sentiment.
- Future Outlook: Depending on Bessent's stance, the conference could either foster optimism or deepen concerns about the administration's policies.
This situation illustrates the growing divide between traditional financial elites and the rising nationalist sentiment within the GOP, potentially reshaping future interactions in elite circles.
What the papers say
According to the NY Post, Ken Griffin's event is set against a rival reception organized by Ric Grennell, featuring Treasury Secretary Scott Bessent. This reflects a significant rift, as Griffin has openly criticized Trump's policies, which has not gone unnoticed by the administration. Business Insider UK highlights that Bessent's speech will set the tone for the conference, with attendees eager for insights on trade policies that have recently frustrated many investors. The contrasting perspectives from these sources underscore the tension between globalist and nationalist viewpoints within the current political landscape.
How we got here
The Milken Institute Global Conference, known for attracting corporate and financial elites, is now overshadowed by a rival event hosted by Ric Grennell. This rivalry stems from Griffin's public criticism of Trump's administration, particularly regarding trade and immigration policies.
Go deeper
- What are the main topics being discussed at the conference?
- How has Trump's administration reacted to Griffin's criticisms?
- What impact could Bessent's speech have on the markets?
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