A Zoom program was presented on Monday by UC CFO Jagdeep Bachher on the economic outlook. It originally was scheduled to include Rick Rieder of Blackrock (who was one of the candidates to be named chair of the Federal Reserve), Gilles Delleart of Blackstone (Blackstone and Blackrock are separate firms), and Torsten Slok of Apollo Global Management. At the last minute, UC Regent Hadi Makarechian was added to discuss the Iran situation (he is of Iranian background).
Due to a technical glitch, the first ten minutes of the one-hour program never made it to the screen, which included the Rieder portion. But in broad terms, the group painted an economic outlook similar to what the UCLA Anderson Forecast projected last week.* The outlook was mostly positive due to the stimulus of the so-called One Big Beautiful Bill and maybe, now, tariff refunds, along with AI-related investment. Makarechian's take on the Iran War was that it was part of a larger Trump intent to control world oil, starting with Venezuela, and thus a counter to oil-dependent China.
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*https://uclafacultyassociation.blogspot.com/2026/03/ucla-forecast.html.
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