Wall Street Breakfast Fed's Powell sticks to his guns
13 snips
Jun 24, 2025 The Fed chairman is holding steady on interest rates amidst uncertain tariff impacts. Consumer confidence takes a surprising nosedive. Tensions flare as Trump critiques Israel and Iran. Oil prices plummet due to shifting expectations around Iran's exports. Meanwhile, Krispy Kreme navigates challenges after parting ways with McDonald's, while Teladoc basks in positive market reviews. And, Tesla's robo-taxis face scrutiny as regulatory investigations ramp up.
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Fed's Patience on Tariffs
- The Fed is adopting a wait-and-see approach before adjusting interest rates due to tariff uncertainties.
- Tariff impact on inflation could be temporary or persistent depending on their size and duration.
Hammock's Hawkish Fed View
- Cleveland Fed President Beth Hammock sees no immediate need for rate cuts as the economy isn't weakening enough.
- She suggests holding rates steady might best balance inflation risks and labor market slowdowns.
Consumer Confidence Dips
- Consumer confidence unexpectedly dropped in June, reversing nearly half of May's gains.
- Both present situation and expectations declined, with inflation expectations easing.