Squawk on the Street SOTS 2nd Hour: Steven Mnuchin & Day 1 of Powell’s Semiannual Monetary Report 6/24/25
Jun 24, 2025
Join Former Treasury Secretary Steven Mnuchin as he dives into the intricacies of the stock market's recent rally, spurred by shifts in geopolitical tensions. He discusses critical consumer confidence data and contrasts differing views on Fed policies with Jay Powell, Chairman of the Federal Reserve. The conversation also touches on potential legislative impacts of tax cuts and the broader implications of U.S. trade negotiations, offering insights into the evolving economic landscape during these uncertain times.
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Fed's 'Wait and See' Tariff Impact
- Fed Chair Powell is waiting to see the economic impact of tariffs before adjusting policy.
- Some Fed officials suggest rate cuts could happen as soon as July, creating a timing debate.
Mnuchin Predicts Fed Rate Cuts
- Steven Mnuchin expects the Fed to cut interest rates by 75 to 100 basis points over the next year.
- He believes markets have already priced these cuts in despite Powell's public caution.
Iran Nuclear Program Impact
- The destruction of Iran's nuclear program has significantly reduced nuclear risk and improved Middle East stability.
- This development positively influences oil prices and global markets.