RiskReversal Pod Peter Boockvar: The Fed Can’t Fix Tariffs
Aug 13, 2025
Peter Boockvar, CIO at OnePoint BFG Wealth Partners, sheds light on how recent economic data shapes market reactions. He discusses the 3% inflation rate and its implications for investor sentiment. The conversation pivots to the challenges tariffs pose on economic growth amid fluctuating markets. Boockvar explores the transformative potential of AI capital spending and warns against over-reliance on central bank policies. Ultimately, he paints a picture of an insatiable stock market eager for risk, navigating a complex economic landscape.
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CPI Was In Line, But Inflation Still Sticky
- CPI matched expectations but showed goods inflation bottoming and services remaining persistent.
- Markets interpreted it as keeping a September Fed cut likely, fueling the rally.
Fed Cuts Priced In Despite Persistent Inflation
- The market is pricing Fed cuts (September likely) despite 3% inflation and softening growth.
- That creates a tension where rate cuts may be limited if inflation persists.
Powell Likely To Deliver A Cautious Cut
- Jay Powell will likely signal a cautious, 'hawkish' cut and avoid committing to multiple easy cuts.
- He prioritizes his legacy and won't let inflation reaccelerate as he exits.