Bloomberg Talks: Kathy Wylde Talks Role in Mamdani Transition Team

Date: December 17, 2025
Host: Bloomberg
Guest: Kathy Wylde (Outgoing President & CEO, Partnership for New York City)
Additional Contributors: Bloomberg News Senior Reporter Miles Miller

Episode Overview

This episode centers around the transition of Zoran Mamdani to Mayor of New York City, and the business community’s response to his new administration. Kathy Wylde, a prominent business leader and member of Mamdani’s transition team, discusses her role, the challenges facing the city, and evolving attitudes toward issues like taxation, housing, and government efficiency. The conversation examines the tension between Mamdani's campaign promises and economic realities, and how dialogue between the public and private sectors is shaping the city's future.

Key Discussion Points & Insights

1. Concerns from the Business Community (00:29–01:26)

• Ken Griffin’s Warnings: Citadel founder Ken Griffin expresses "red flag" concerns about New York City's direction, critiquing a focus on charisma and social media over deliverable policies. He hopes Mayor-elect Mamdani will adopt more pragmatic approaches.
  • Quote:

    "People put aside good sense and common sense to elect somebody who is incredibly charismatic... New York took a big step back during the de Blasio days, and I hope that Mamdani starts to think about how to pivot..."
    — Ken Griffin, (00:51)

2. Why Kathy Wylde Joined the Transition Team (02:08–03:52)

• Wylde’s Motivation: Wylde sees value in bridging experience with Mamdani’s energy, particularly after the pandemic’s negative impacts and federal funding uncertainties.
  • Quote:

    "It's up to all of us who have a little more seasoning to be helpful. ... I'm working on economic development, workforce activities... What he's brought is a positive energy and we ought to capitalize on that."
    — Kathy Wylde, (02:12)

• Rebuilding Post-Pandemic: Emphasizes leveraging new enthusiasm to recover from lost jobs and address cuts to federal funding.

3. Kathy Wylde’s Future Role (03:52–05:01)

• No Plans for Full-Time Administration Role: Wylde is transitioning out of her current job and doesn't anticipate full-time administration work, but will help if needed.
  • Quote:

    "I am definitely not, at my age, looking for a full time job. I'm trying to get away from a full time job."
    — Kathy Wylde, (03:59)

• Collaboration with Multiple Levels of Government: Solving citywide problems (like affordability) requires cooperation between city, state, and federal governments.

4. Mamdani’s Relationship with Business Leaders (05:01–07:34)

• Mamdani’s Setting and Evolution: Early campaign communication focused on slogans, but post-primary, Mamdani has taken a much more nuanced and data-driven approach—listening actively and diving into substantive discussions.
  • Quote:

    "I've watched him evolve and grow over the last eight months. ... He was there with a pen and a notebook, taking notes, asking questions, and coming back with very substantive responses."
    — Kathy Wylde, (05:33)

• Confronting Economic Realities: Mamdani is realizing that ambitious promises (e.g., free housing, free childcare) face funding constraints and that raising taxes has limits, especially if it risks losing financial sector jobs vital to city revenues.

5. The Tax Burden and Wealthy Residents’ Responses (07:34–10:58)

• Tax Realities: Well-off New Yorkers already face a 55% total tax burden; new taxes risk driving out wealthy residents, eroding the city’s tax base.
  • Quote:

    "We're paying 55% of our income to the federal, state and city government... For the very wealthy... if they move their legal residence out of New York City, we don't get, we don't share or get taxes."
    — Kathy Wylde, (08:15)

• Efficient Government and Acceptable Taxes: Business leaders will support taxes if government proves it’s efficient and if the taxes are tied to clear benefits (e.g., payroll mobility tax, congestion pricing, past post-9/11 real estate tax hikes).
  • Quote:

    "It's not that we're anti all taxes. It's is government doing what they can to keep costs down... then what is the contribution and how do we make it that makes the most sense."
    — Kathy Wylde, (10:58)

6. Housing Policy and Affordability Crisis (10:58–12:01)

• On Freezing Rents: Mamdani now embraces a more balanced view, understanding that supply and affordability aren’t mutually exclusive and that incentives for private developers matter.
  • Quote:

    "If there's no economic return, nobody's going to build housing. ... When he talks about freezing the rent, he says... if we reduce property taxes on rent stabilized, regulated buildings. So he gets it. He can add and subtract."
    — Kathy Wylde, (11:20)

Notable Quotes & Memorable Moments

• On Mamdani's Evolution:
  "He's absorbed a lot and is now digging deep on these issues... He's very quickly figuring out none of this is free. Raising taxes creates real issues."
  — Kathy Wylde, (05:33–06:50)

• On Collaboration Needs:
  "Affordability problems will not get solved by the city alone. This is going to take federal, state, city cooperation."
  — Kathy Wylde, (04:21)

• On Business Community Tax Support:
  "We supported... a payroll mobility tax... We supported an increase in that tax twice. ... We supported congestion pricing... We supported that 18% tax increase in real estate taxes [post-9/11]."
  — Kathy Wylde, (09:02–10:58)

Timestamps for Key Segments

• Ken Griffin’s Concerns About NYC Leadership: 00:29–01:26
• Kathy Wylde Explains Transition Team Role: 02:08–03:52
• Wylde on Ongoing Involvement: 03:59–05:01
• Mamdani Meeting Business Leaders, Policy Evolution: 05:01–07:34
• Debate on Taxes, Wealth Flight, and Government Efficiency: 07:34–10:58
• Nuance in Housing Policy and Rent Freeze: 10:58–12:01

Tone and Language

The conversation is candid, informed, and pragmatic, reflecting the realism of veteran city leadership but open to the energy of new political actors like Mamdani. There is a recurrent theme of bridging idealism and practical governance, underscored by a sense of urgency about New York’s economic health and future.

This summary provides a comprehensive review of Kathy Wylde’s appearance on Bloomberg Talks, capturing the essential topics and candid insights relevant to New York’s business and political landscape as the city transitions to new mayoral leadership.