

SOTS 2nd Hour: Steeling For More Tariffs, The Energy Outlook - Plus: CEOs of Hilton and Bristol Myers Squibb 6/2/25
10 snips Jun 2, 2025
Eamon Javers, a CNBC correspondent who covers economic policy from Washington D.C., joins Julian Emanuel, a senior strategist at Evercore ISI, for a deep dive into the implications of new steel and aluminum tariffs. They discuss market volatility and OPEC's recent decisions affecting oil prices. Chris Nassata, CEO of Hilton Worldwide, shares insights on travel demand amid global tensions and how these factors influence the hospitality sector. The trio tackles the intersection of trade and industry, revealing the ongoing impacts on consumer behavior and corporate strategies.
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Labor Market Softening Slowly
- The labor market is gradually cooling, but remains tighter than pre-pandemic levels.
- Job openings per unemployed ratio dropping near one indicates a slow easing in labor demand.
Tariff Hikes Stir Global Uncertainty
- Tariff announcements on steel and aluminum have stirred global uncertainty and potential cost increases.
- Trade negotiations continue cautiously with hopes for resolution before the tariff pause ends on July 9.
Fed Rate Cuts Likely Post-Uncertainty
- Inflation risks are elevated but the labor market remains resilient, suggesting a potential self-regulating inflation-demand balance.
- Markets expect the Fed to cut rates twice by year-end after resolving policy uncertainties.