Ken Griffin addressed the impact of the Trump administration’s ongoing tariff policies on Wednesday, warning that the global reputation of the U.S. is at stake.
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00:00You actually picked exactly the right word, the American brand, right? The United States
00:06was more than just a nation. It's a brand. It's a universal brand, whether it's our culture,
00:12our financial strength, our military strength. America rose beyond just being a country. It
00:18was like an aspiration for most of the world. And we're eroding that brand right now. And if
00:24you think of your behavior as a consumer, how many times do you buy a product with a brand on it
00:28because you trust that brand? You know you could buy a similar dress with no name for less money,
00:34but you want the dress that you think is going to not fall apart in two weeks. You want the handbag
00:38that you think is well made. You want the television that you know that when you turn it on, it's going
00:42to work perfectly. You want the car that when you turn the engine on, it's going to run. And when it
00:46comes to money management, for example, there are many great American institutions whose the power
00:51of their brand, that they will deliver a fair service at a fair price, that they'll do well by
00:56their investors and put their investors' interest first, whether it's a BlackRock or Fidelity.
01:01These are global brands of immense power. But in the financial markets, no brand compared to the
01:06brand of the U.S. Treasuries. U.S. Treasury market, the strength of the U.S. dollar and the strength,
01:12the creditworthiness of U.S. Treasuries. No brand came close. We put that brand at risk.