Bloomberg Talks Podcast Summary

Episode: Eric Cantor Talks US Economy, M&A Deals

Date: December 12, 2025
Host: David Westin (Bloomberg)
Guest: Eric Cantor (Vice Chair, Moelis & Co.; Former House Majority Leader)

Main Theme

This episode features a candid discussion with Eric Cantor about the current state of the US economy, the surge in mergers and acquisitions (M&A), regulatory shifts under the Trump administration, government intervention in business, inflation, affordability messaging, and what to expect from fiscal and tax policy in the new year.

Key Discussion Points & Insights

1. M&A Activity & Market Optimism

• Robust Deal Pipeline:
  Cantor notes strong momentum in M&A activity as 2025 closes, crediting accommodative capital markets and optimism among businesses.

  "We're in the business of advising on transactions. Transactions are a tool for companies to accelerate growth, to figure out how to better position, to gain efficiencies..." (Eric Cantor, 00:50)

• Constructive Deal Environment:
  Both strategics (corporates) and sponsors (PE, VC) are actively engaged, leveraging various financial tools and strategies.

2. Investor Skepticism & Market Nuances

• Pushback on Pricing:
  Despite the optimism, Westin observes investors demanding better terms, as seen in recent deals like Broadcom and Oracle debt.

  "Investors are saying you need to pay up a little bit more." (David Westin, 01:19)
  Cantor responds that while activity is high, strategic planning and capital recycling needs are shaping the market (01:37).

3. Regulatory Shifts: From Biden to Trump Administration

• Changing Regulatory Tone:
  Cantor contrasts the "anti-business sentiment" of the prior administration with today's more constructive, deals-friendly environment.

  "You just don't have this overhang that you had in the prior Biden administration where, you know, there was really an anti-business sentiment." (Eric Cantor, 02:39)

• Ambiguity Remains:
  While regulatory pressure has eased, Cantor warns that unpredictability in Washington persists:

  "There is just sort of an acceptance that you're never really going to know for certain anything because of the way that...things are about in Washington." (Eric Cantor, 02:39)

4. Trump Administration's Approach: State Intervention & Deal-Making

• "New Breed" Trump Republicanism:
  Cantor, a traditional free-market Republican, admits the government's willingness to take equity stakes or impose tolls is unprecedented.

  "It's obviously something very new to me to see that the government wants to take a stake in a business and or a toll if it's an export. That is something that is obviously, and I think for the majority of the members that are in the Congress now, it is something that's very new." (Eric Cantor, 03:59)

• Comparison with Past Bailouts:
  He draws a distinction between the current approach and past bailouts, highlighting lack of clarity on the government's exit strategy:

  "The difference [is] before there was always sort of a path and a known path to an exit. And now not so clear." (Eric Cantor, 05:03)

• Focus on Strategic Sectors:
  Government interventions are concentrated in critical industries like AI and rare earths, aiming to preserve US security advantages over global competitors.

  "If you look at where the administration has been taking stakes, it's really in these industries that are critical to the national security...how do we go and continue to take the lead in these critical sectors vis a vis China and other bad actors." (Eric Cantor, 05:28)

5. Affordability, Inflation, and Political Messaging

• Response to Inflation Pressures:
  After lackluster off-year election results, Cantor praises the administration's nimble move to lift tariffs on 200 food items—including Brazilian beef—to provide holiday price relief.

  "There's a real inflationary pressure in the beef industry in this country. And I think the administration took the steps necessary to provide relief." (Eric Cantor, 06:25)

• Novel Messaging Tactics:
  The administration's talk of a "dividend from the tariffs" is cited as creative economic messaging:

  "He's talking about a dividend from the tariffs...that is something directly related to...how is a president supposed to bring down prices when we're in a free market." (Eric Cantor, 06:25)

6. Fiscal Stimulus, CapEx, and AI

• 2026 Outlook on Tax and Stimulus:
  The anticipated tax bill's benefits include accelerated deductions for capital expenditures, which Cantor predicts will drive infrastructure investment, notably for AI and power:

  "There's a tremendous tailwind we're going to experience from the ability to completely, you know, write off the expense up front." (Eric Cantor, 07:46)

• Expected Outcome:
  He expects an uptick in investment as businesses capitalize on these fiscal incentives.

Notable Quotes & Memorable Moments

• On Regulatory Environment:

  "There is just sort of an acceptance that you're never really going to know for certain anything because of the way that...things are about in Washington."
  — Eric Cantor, (02:39)

• On Government Taking Stakes:

  "It's obviously something very new to me to see that the government wants to take a stake in a business and or a toll if it's an export."
  — Eric Cantor, (03:59)

• On Market Pushback:

  "Investors are saying you need to pay up a little bit more."
  — David Westin, (01:19)

• On Economic Messaging:

  "He's talking about a dividend from the tariffs...that is something directly related to...how is a president supposed to bring down prices when we're in a free market."
  — Eric Cantor, (06:25)

• On Stimulus Tailwind:

  "There's a tremendous tailwind we're going to experience from the ability to completely...write off the expense up front."
  — Eric Cantor, (07:46)

Timestamps for Key Segments

• M&A Pipeline & Market Optimism – 00:50–01:19
• Investor Skepticism & Pushback – 01:19–01:37
• Regulatory Environment Shift – 02:20–02:39
• Trump’s Unique Approach to Business-State Interaction – 03:42–05:03
• National Security & Strategic Industry Focus – 05:11–06:07
• Inflation, Affordability, and Political Response – 06:07–07:33
• Fiscal Stimulus & Capital Expenditure Outlook – 07:33–08:18

Conclusion

This concise, high-energy conversation showcases Eric Cantor’s perspectives on the dynamic US M&A environment, the uniquely unpredictable yet pro-business regulatory landscape under President Trump, government intervention in strategic industries, and efforts to address affordability through tariff policy. Cantor blends insider insights from Wall Street and Capitol Hill, providing listeners with both macroeconomic context and sharp commentary on current political-economic strategies.