Squawk Pod Kevin Hassett on Tariffs & Ken Burns on The American Revolution 11/17/25
Nov 17, 2025
Kevin Hassett, former National Economic Council director, dives into the administration's decisions to cut tariffs on over 200 food items, aiming to combat rising grocery prices and inflation. He discusses the importance of a data-driven Federal Reserve and the mixed signals from the labor market. Then, filmmaker Ken Burns shares insights from his PBS series The American Revolution, highlighting underrepresented voices and the significance of historical storytelling. Lori Calvasina discusses market sentiment and the implications of AI-driven stock movements.
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Episode notes
Valuation Split Between Top Names And Rest
- Lori Calvasina sees a valuation issue concentrated in top market cap names while the broader 490 stocks trade cheaper.
- She notes the market's gains are narrow and sentiment-driven, raising consolidation risk.
Top-10 Multiples Near Historical Highs
- Calvasina reports the top 10 S&P names trade near ~28x while the other 490 trade around ~18x.
- She warns both measures are near historical highs outside the 2021 stimulus peak.
Watch Transparency In Private Markets
- Calvasina advises markets benefit from vigilant oversight and lessons from past crises.
- She urges attention to transparency in private markets to reduce systemic risk concerns.