Squawk Pod Working through the Shutdown: The CPI Report 10/24/25
Oct 24, 2025
Senator James Lankford, a Republican from Oklahoma and vice chair of the Senate Republican Conference, dives into the contentious government shutdown and proposes automatic continuing resolutions to prevent future stalemates. House Minority Leader Hakeem Jeffries offers the Democratic perspective, emphasizing the need to extend Affordable Care Act tax credits to support working Americans. They both highlight health care policies, the implications of recent CPI data, and trade tensions with Canada, showcasing the stark divide between their approaches to resolving national issues.
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CPI Came In Cooler Than Expected
- September CPI showed headline inflation up 0.3% month-over-month and 3.0% year-over-year, slightly below expectations.
- Rick Santelli and guests said markets rallied because the print was cooler than forecasts, easing near-term Fed tightening fears.
Core Inflation Still Above Target
- Core CPI (ex-food and energy) rose 0.2% month-over-month and 3.0% year-over-year, also a touch below forecasts.
- Panelists said this gives the Fed more room to consider cuts later in the cycle, though inflation remains above 2%.
Use Markets As A Real-Time Indicator
- Treat the stock market as a real-time signal when official data are sparse, but be cautious of overreliance.
- Santelli warned surveys can be misleading and markets may reflect the only honest metric available right now.