Davos Highlights: Intel CEO, Larry Summers, Dan Yergin and Sen. Manchin

Recession worries, technology leadership, the inflation fight, energy independence and an attack on freedom of speech topped this year's summit

This year's World Economic Forum in Davos, Switzerland, has been one of the most interesting as business and geopolitical leaders returned for the first time in person post-pandemic. And there was no shortage of issues to discuss. 

Global inflation, a U.S. recession, the debt ceiling and Russia's invasion of Ukraine topped the many issues. 

Davos Switzerland 2023

A Swiss national flag waves on a building in Davos, Switzerland, Sunday, Jan. 15, 2023.  (AP Photo/Markus Schreiber / AP Newsroom)

FOX Business looks back on some of the most notable newsmakers from the confab. 

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BANK OF AMERICA CEO

Bank of America's Brian Moynihan shared his thoughts on the U.S. recession and warned how it may impact wealth. 

Ticker Security Last Change Change %
BAC BANK OF AMERICA CORP. 37.91 +0.09 +0.22%

BANK OF AMERICA CEO: WEALTH EFFECT COULD FEEL LIKE '08

INTEL CEO

Pat Gelsinger said semiconductor industry investments are "critical" for the global economy's future and claimed the U.S. CHIPS and Science Act was a "turning point" in global competition with China. 

Ticker Security Last Change Change %
INTC INTEL CORP. 44.17 +0.40 +0.91%

US HIT 'TURNING POINT' WITH CHINA: INTEL CEO

LARRY SUMMERS

Harvard Professor Larry Summers, who served in both the Clinton and Obama administrations, expressed his wariness about inflation. 

"To suppose that some kind of relenting on an inflation target will be a salvation would be a costly error," Summers said. He added that while tackling inflation will cause a recession, an even greater recession will occur if the Federal Reserve can't get inflation under control. 

LARRY SUMMERS WARNS THE FED RISKS 1970S-STYLE CRISIS IF IT PAUSES INFLATION FIGHT

Larry Summers at the World Economic Forum

Lawrence Summers, president emeritus and professor at Harvard University, during a panel session on the closing day of the World Economic Forum in Davos, Switzerland, Friday, Jan. 20, 2023. (Stefan Wermuth/Bloomberg via Getty Images / Getty Images)

S&P GLOBAL VICE CHAIRMAN DANIEL YERGIN

Daniel Yergin, a Pulitzer Prize winner for his book, "The Prize: The Epic Quest For Oil, Money & Power," warned of underinvestment in oil and gas because energy independence is "taken for granted" in America.

Ticker Security Last Change Change %
XOM EXXON MOBIL CORP. 116.23 +1.18 +1.03%
CVX CHEVRON CORP. 157.72 +1.36 +0.87%
USO UNITED STATES OIL FUND L.P. 78.72 +1.18 +1.52%
BNO UNITED STS BRENT OIL FD LP UNIT 31.90 +0.43 +1.37%

ENERGY EXPERT URGES US INDEPENDENCE, SAYS SECURITY MUST BE ‘BACK ON THE AGENDA’

Daniel Yergin

Daniel Yergin attends the 2018 Columbia Global Energy Summit regarding the evaluations of the United States' increased crude oil production, oil market and crude oil prices in New York April 19, 2018. (Atilgan Ozdil/Anadolu Agency/Getty Images / Getty Images)

UNITED STATES SENATOR JOE MANCHIN

Sen. Joe Manchin, D-W.Va., said, "The problem that we have is the open press system and basically all the platforms." 

SEN. JOE MANCHIN APOLOGIZES AFTER TRASHING 'OPEN PRESS SYSTEM' ON DAVOS PANEL

After his comments went viral over worries he was attacking freedom of speech, Manchin clarified that America is home to a "very good, competent press," but social media platforms can become echo chambers that reward "bad behavior."