The Fox News Rundown Business Rundown: The President's Latest Tariff Plan
Sep 26, 2025
Gary Kaltbaum, President of Kaltbaum Capital Management and a FOX Business contributor, shares insights on economic currents. He discusses the recent rise in inflation and the implications for the Federal Reserve's policies. As President Trump announces new tariffs on imports, Kaltbaum weighs their potential benefits and risks. He also analyzes the impact of the TikTok deal on security and business, and the influence of the MAG-7 stocks on market stability. Finally, he highlights opportunities in tech amidst market pullbacks.
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Inflation Is A Monetary Phenomenon
- Gary Kaltbaum argues inflation is primarily monetary, driven by past large money printing and prolonged 0% rates.
- He expects inflation to remain around current levels unless bond yields spike significantly.
Watch Long Bond Yields Closely
- Watch long-term bond yields as an early warning for rising inflation and economic stress.
- A rapid move of the 10-year toward 4.5%–5% would signal inflation reaccelerating and higher capital costs.
Use Rate Cuts To Signal Fed Engagement
- If running the Fed, Gary would cut rates further but not excessively, signalling active policy engagement.
- Rate cuts mainly send a message rather than instantly creating or destroying jobs, he says.