Squawk on the Street Stocks' Record Run, Navarro Slams Fed's Powell, Tesla Slides As Musk Forms a New Political Party 7/7/25
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Jul 7, 2025 Peter Navarro, former White House Senior Counselor for Trade and Manufacturing, shares his fiery views on the Federal Reserve, labeling Jerome Powell as potentially the worst Fed Chair ever. He discusses the implications of upcoming trade negotiations and tariffs on the stock market, which is at record highs. The conversation also touches on Tesla's recent stock slide following Elon Musk's announcement of a new political party, highlighting the volatile intersection of corporate and political landscapes.
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Broad Stock Market Rally
- The stock market is at record highs with broad-based rallies beyond just the biggest tech companies.
- Positive macro themes like tax cuts, tariffs, and industrial growth are helping lift various sectors.
Bessent’s Credible Trade Updates
- Treasury Secretary Scott Bessent presents credible trade negotiations improving tariff deals.
- His approach lends hope for meaningful announcements despite tariff pressures.
Watch Imminent Trade Announcements
- Expect announcements on trade deals imminently as negotiations intensify before tariff deadlines.
- Monitor trade developments closely as they impact market sentiment.