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Michael Kao, CIO at Akadia Capital, participated in a macro roundtable at the Los Angeles branch of the San Francisco Federal Reserve on May 22, 2026.
Kao noted that the LA branch is responsible for cash management and processing for 720 financial institutions within its district.
Kao recently pointed to newly released macroeconomic and jobs data available for review. He has also highlighted risks as secondary market speculation in pre-IPO shares grows. Investor FOMO was cited as a driver of these trends in earlier commentary.