Wall Street's A-List Worries About the Economy in Private, While Showing Public Calm

Attendees of this week’s Milken Institute Global Conference heard a lot of upbeat chatter from the stages of the Beverly Hilton hotel, where billionaires and executives frequently took a sanguine tone about the state of markets and the global economy.

Treasury Secretary Scott Bessent touted the US as the premier destination for global capital. KKR & Co. co-founder George Roberts told the audience to “stay calm and carry on.” Ares Management Corp. Chief Executive Officer Mike Arougheti spoke of the “golden opportunity” of private credit.