Bloomberg Businessweek Weekend – December 12, 2025

Hosts: Carol Massar & Tim Stenovec
Release Date: December 13, 2025

Episode Overview

This weekend edition explores the economic and business stories shaping 2025, focusing on the latest Federal Reserve decision and its implications, the outlook for bank lending and consumer health, the energy demand surge driven by data centers, innovation in solar-electric vehicles, the recovery of psychedelic drug investment, and the challenges (and meaning) of the great American declutter as the generational wealth transfer begins. The episode features a blend of expert roundtable conversations, C-suite interviews, and practical insights from Businessweek magazine reporters.

Key Segments & Discussion Points

1. The Federal Reserve’s Latest Move and Its Ripple Effects

[02:47–18:38]

Main Takeaways:

• The Fed delivered its third consecutive quarter-point rate cut, with Chair Jay Powell emphasizing the ongoing risks in achieving the dual mandate of price stability and employment.
• The show features a robust roundtable with economist Steve Moore (former Trump adviser and Unleash Prosperity co-founder) and Bloomberg economist Stuart Paul, examining political pressures, fiscal policy, and potential successors to Powell.

Key Insights & Quotes:

• Economic Backdrop:

  • “The US economy is so hot. Trump is right about that. And 2026 is going to be a monster year for growth and for incomes and I believe for equities.”
    — Steve Moore [05:32]
  • Inflation has dropped, but not yet to the 2% target ("We're running about 2.7, 2.8. So there's still work to be done to bring inflation down." — Moore [05:32])

• Fed Policy & Politics:

  • “What destroys a presidency is inflation. Americans hate, hate, hate higher prices.”
    — Steve Moore [16:43]
  • “The top priority of the Fed should be to make sure that we bring that inflation rate down to the target level. We’re not there yet.”
    — Steve Moore [06:21]
  • Moore distinguishes between political independence and alignment, stating, “Presidents deserve the monetary policy they want, frankly. And so…I think they will [nominate aligned economists].” [15:16]
  • On rate cuts: “Wall Street puts way, way, way too much influence and interest in Fed rate cuts.... The most important thing is this incredibly healthy economy.” [07:09]

• Key Potential Candidates:

  • “The two Kevins [Hassett or Warsh] are monetary experts, extraordinary economists... I think they would keep their eye on the most important thing...defend the dollar.”
    — Steve Moore [10:01]

• Policy Disagreement: Government Stakes in Business

  • “No, no, no. Never. I believe in separation of business and state and the less the government does to influence business, the better.” — Steve Moore [18:09]

2. Understanding Bank Lending, M&A, and Consumer Health

Guest: Zach Wasserman, CFO, Huntington BankShares
[22:09–32:22]

Main Takeaways:

• Huntington Bank has expanded through partnerships, emphasizing sustainable organic growth.
• Despite pockets of regional weakness, lending and consumer health at Huntington remain strong, driven by stable credit profiles and mass affluent customer focus.

Key Insights & Quotes:

• On the Fed’s decision:
  “I think the outlook for— they’ve signaled probably one additional cut into 2026. The market, by the way, is baking in two cuts... somewhere in that range seems very likely and I think helpful for the economy.”
  — Zach Wasserman [22:49]

• Growth Strategy:

  • “I wouldn’t characterize our posture as aggressive. It’s, you know, for us, expansive. It's been a dynamic year...primarily from an organic growth perspective.”
    — Zach Wasserman [24:19]
  • “We really do [call them partnerships, not acquisitions]...it’s all in service of sustainable long-term organic growth.” [24:44]

• Consumer Health:

  • “Stable consumer. Pipelines continue to be strong from a lending perspective...It really looks like a solid economy from our perspective. If all you did was read our internal reports, it would belie what you’re hearing in terms of the headlines.”
    — Zach Wasserman [27:41]

• AI Transformation:

  • “We’re doing a lot in AI...last year we had two gen AI projects, today we have 30.” [30:26]
  • “AI will touch almost every element of human life and commercial activity and ultimately will supplant many of the more rote processes.” [31:42]

3. The Energy Boom: Data Centers, Grid Challenges, and the Nextera Shift

Guests: Will Wade & Josh Saul, Bloomberg Energy Reporters
[32:45–45:04]

Main Takeaways:

• The rise of data centers is driving unprecedented US power demand.
• Nextera Energy, a renewable giant, is expanding into natural gas and exploring nuclear plant revivals to meet hyperscaler needs.
• Regulatory bottlenecks and infrastructure upgrades are a critical barrier to grid expansion, even as renewables are cost-competitive.

Key Insights & Quotes:

• “All these tech companies, they need as much electricity as they can get it and they need it, they need it yesterday. They can’t bring it on fast enough.”
  — Will Wade [35:37]

• “There’s a lot happening in nuclear and there’s nothing happening in nuclear. Lots of people are talking about it...it just moves slower than anything else we write about.”
  — Stuart Paul [39:15]

• “Power bills are going up almost entirely across the country.”
  — Will Wade [43:04]

• On obstacles: “There’s a lot of regulatory issues. It used to be expensive, but tech companies have so much money to throw at the problem...”
  — Stuart Paul [36:07]

• Affordability & Policy:

  • “The level of anger and people talking about it the way they’ve historically talked about gas, gasoline prices, or more recently, eggs and groceries...that’s now sloshing over onto utilities.”
    — Will Wade [42:24]

4. Solar Mobility & Aptera’s Futuristic Car

Guest: Chris Anthony, Co-CEO Aptera Motors
[49:28–60:19]

Main Takeaways:

• Aptera is developing an ultra-efficient three-wheel, solar-assisted electric vehicle with up to 1,000 miles of range, targeting final production in 2026.
• The vehicle’s design minimizes drag and weight (“It looks more like a fish than a box”), and leverages US-based manufacturing.
• Customer interest is significant, with nearly 50,000 pre-orders.

Key Insights & Quotes:

• “The Aptera gets 400 miles of range, plus it gets the solar charging that it gets every day just by leaving it out in the sun.”
  — Chris Anthony [52:30]
• “We have almost 50,000 orders...we hope to deliver up to a million Aptera in the next 10 years. It took Tesla 13 years to deliver their millionth vehicles. We hope to do it in 10.”
  — Chris Anthony [60:08]
• On design philosophy:
  “We started with how do we make the most efficient transportation possible. And then it became this solar powered masterpiece that we have now. But we really didn’t know what kind of market there was.” [51:36]

5. Psychedelic Drug Therapies: The Comeback

Guest: Kabir Nath, CEO Compass Pathways
[61:33–72:09]

Main Takeaways:

• Psychedelic drug development, after a 2022 setback, is resurging as Compass Pathways eyes FDA approval for psilocybin-based therapies for treatment-resistant depression (TRD) and PTSD.
• The FDA is open to accelerated approval if ongoing studies maintain strong efficacy and safety, with the company targeting a commercial launch in late 2026.

Key Insights & Quotes:

• “There are 3 million patients living with persistent depression in the US...fewer than 5% are treated with a medicine specifically studied for or approved for treatment resistant depression.”
  — Kabir Nath [61:53]

• “A single session can produce a dramatic response that lasts for six weeks. What we are showing is truly transformative for these patients.”
  — Kabir Nath [67:02]

• “We are preparing to be ready for a commercial launch from the end of 2026.”
  — Kabir Nath [66:22]

• On safety:
  “We have a fully independent group of scientists and clinicians that reviews all our safety data...They have seen no unexpected or concerning side effects.”
  — Kabir Nath [70:54]

• Trials for PTSD are in design, targeting another underserved, predominantly female patient base.

6. The Great Declutter: America’s Inheritance of “Stuff”

Guest: Chris Rouser, Bloomberg Pursuits Editor
[75:32–87:09]

Main Takeaways:

• As trillions in assets—and “stuff”—are set to transfer from older generations to Gen X and Millennials, families face both emotional and practical challenges.
• Help exists: professional organizers, estate appraisers, and a burgeoning service ecosystem have emerged.
• The culture of accumulation is rooted in American history, mass production, and depression-era mentalities.

Key Insights & Quotes:

• “His mom had these two great big lofts in SoHo in New York. Sounds very glam, but they were filled with stuff...He found 10,000 Pez dispensers.”
  — Chris Rouser [76:43]
• “Anyone younger than us, younger than 35, grew up with Amazon...So, everything is immediately available...for them, things are not as high quality as they were.”
  — Chris Rouser [80:23]
• “Brown furniture...the best stuff, actually, there is still a market for it...For wooden mallards, there are markets for all these things.”
  — Chris Rouser [83:54]
• “If you’re buying a woman an expensive watch and you’re not considering a Cartier, you’re a lunatic.”
  — Chris Rouser [86:57]

Notable Quotes & Timestamps

• “There is no risk-free path forward.” — Fed Chair Powell (quoted by Carol Massar) [03:17]
• “All these tech companies, they need as much electricity as they can get...they need it yesterday.” — Will Wade [35:37]
• “Power bills are going up almost entirely across the country. Different reasons in different places...but power bills are going up.” — Will Wade [43:04]
• “A single session can produce a dramatic response…What we are showing is truly transformative.” — Kabir Nath [67:02]
• “We hope to deliver up to a million Aptera in the next 10 years. It took Tesla 13 years...” — Chris Anthony [60:08]
• “His mom had...two big lofts in SoHo...he found 10,000 Pez dispensers.” — Chris Rouser [76:43]

Segment Timestamps for Easy Reference

• [02:47] Fed’s December decision & roundtable with Steve Moore
• [22:09] Banking outlook with Zach Wasserman, Huntington Bank
• [32:45] Powering data centers: Nextera, utility transformation
• [49:28] Aptera’s solar vehicle innovation
• [61:33] Compass Pathways & the future of psychedelics in mental health
• [75:32] Chris Rouser: tips and reflections on generational decluttering and watch gifting

Tone & Language

Reflective and accessible, the show balances technical economic discussion with practical business intelligence and a conversational, occasionally humorous touch. Industry guests and hosts are candid, often offering personal anecdotes and actionable perspectives.

Useful for:

• Listeners seeking an informed yet lively overview of financial trends, industry transformation (banking, energy, transportation, biotech), and the realities of inheriting and managing family assets.
• Anyone wanting expert takes and practical insights on the economic issues at the intersection of policy, innovation, and daily life.

For more details, visit Bloomberg.com and catch future episodes for deep dives on the trends shaping business and the global economy.