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Squawk on the Street
Trump and Powell, Musk-Altman Feud, Shopify Pres., SNL 50 at the NYSE 2/11/25
Feb 11, 2025
The podcast dives into President Trump's hefty tariffs and their potential economic fallout. It also highlights the fiery feud between Elon Musk and Sam Altman over OpenAI’s future. Shopify's president shares insights on the company's pivot towards enterprise clients amidst evolving trade relations. The celebration of 'Saturday Night Live's' 50th anniversary brings in anecdotes from original cast members, intertwining entertainment with market sentiments. Lastly, a heated conversation arises around the ethics of commerce related to controversial merchandise.
43:39
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Quick takeaways
- President Trump's 25% tariffs on steel and aluminum are raising investor concerns about future costs and inflationary pressures.
- The feud between Elon Musk and Sam Altman highlights competitive dynamics within the AI industry, emphasizing innovation as a key factor.
Deep dives
Tariffs Impact on the Economy
The recent implementation of a 25 percent tariff on steel and aluminum imports has raised significant concerns among investors and businesses. Questions arise about how this will affect capital expenditure (CapEx) plans, with many expressing uncertainty about future costs. Fed Chair Jerome Powell is expected to face scrutiny regarding the inflationary impact of these tariffs when he testifies before the Senate. Observers note that while these tariffs target a small segment of the economy, they may lead to broader inflationary pressures and affect consumer behavior.
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