Squawk on the Street SOTS 2nd Hour: Treasury Sec. On The Hill: Day 2, Boeing Crash Latest, Chime IPO 6/12/25
Jun 12, 2025
Roger Altman, Evercore Senior Chairman and former Deputy Treasury Secretary, shares his concerns about a potential economic slowdown and discusses the implications of a significant fiscal bill on national debt. John McNeil, CEO of DVX Ventures and former Tesla president, dives into the automotive landscape, particularly GM's new investments in U.S. manufacturing. The podcast also covers the latest on a tragic Boeing 787 crash, inflation trends, and Chime's upcoming IPO, highlighting how these events shape the financial landscape and market strategies.
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U.S. Economy Starts Slowdown
- The U.S. economy is beginning a moderate slowdown mainly due to policy and tariff uncertainty.
- Slowdown is evident in job creation rates and is reflected in softened inflation and interest rates.
Chime's Resilient Business Model
- Chime's customers mainly spend on necessities, making its model less sensitive to credit cycles.
- It focuses on payments over lending, creating a unique resilient fintech business.
Inflation Remains Benign
- Recent inflation reports signal benign inflation with minimal price increases in producer and consumer prices.
- Uncertainty remains about the delayed effect of tariffs on inflation's future path.