Closing Bell Closing Bell 9/26/25
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Sep 26, 2025 Jeremy Siegel, a Wharton finance professor and WisdomTree Chief Economist, shares insights on the implications of recent tariffs and their influence on inflation and GDP. Eamon Javers, a Washington policy reporter, discusses the new tariffs and their expected impact on trade deals. The conversation dives deep into market reactions to tame PCE inflation, economic concerns surrounding potential government shutdowns, and the consumer impact of tariffs during the upcoming holiday season. It's a lively discussion packed with actionable market insights.
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Tame Inflation And Tariff Noise
- Jeremy Siegel says tame PCE and stronger growth raise GDP estimates and are positive for stocks.
- He warns tariffs are tax-like and Fed should look beyond tariff-driven price moves.
Case For Modest Fed Cuts
- Siegel argues three factors support modest Fed cuts: slowing payrolls, yield curve structure, and sluggish money supply growth.
- He expects two 25bp cuts over coming meetings, not aggressive easing.
Shutdown Risks To Data And Economy
- Emily Wilkins warns a shutdown would delay jobs data, loans, IPOs, and cost travel industry about $1B weekly.
- She highlights threats of mass federal layoffs though Democrats downplay that risk.