Evercore's Altman on Possible Recession, M&A Activity

The transcript covers discussions on the economic landscape, recession indicators, and the business cycle. It explores political candidates' economic policies, the Federal Reserve's policy decisions, and market perceptions. The global economic situation, including the unexpected downturn in emerging markets like Brazil, Russia, and China, is analyzed. The state of mergers and acquisitions in the asset management sector is also discussed, highlighting the stability and interest in asset management businesses.

What is the definition of a recession according to the transcript?

• Three consecutive quarters of negative growth

• Two consecutive quarters of negative growth

• A year of negative growth

• A single quarter of negative growth

Which of the following is NOT mentioned as a focus of political candidates in the transcript?

• College affordability

• Healthcare reform

• Job creation

• Infrastructure development

What is the speaker's view on returning to the Treasury Department?

• They are considering it

• They believe it's for younger people

• They have already returned

• They are undecided

What is the perceived disconnect between the Fed and market participants?

• The role of the Hamilton Project

• The impact of global risks

• The timing of the next recession

• The number of rate hikes expected

Which countries were expected to lead global growth but did not?

• Australia, South Korea, UK

• India, Japan, Germany

• Brazil, Russia, China

• United States, Canada, Mexico

What is a key focus for the Fed in terms of global factors?

• Reducing interest rates

• Paying attention to global financial markets

• Focusing solely on the US economy

• Ignoring global markets

What trend is observed in asset management according to the transcript?

• Shift towards passive investment strategies

• Decline in M&A activity

• Focus on short-term gains

• Increase in long-only managers