RiskReversal Pod Peter Boockvar: Markets Are Flying In Rarefied Air
Jul 29, 2025
Peter Boockvar, CIO at OnePoint BFG Wealth Management and author of The Boock Report, dives into the economic landscape with captivating insights. He discusses the implications of recent U.S.-EU trade dynamics on tariffs and growth, and explores how these factors challenge the Federal Reserve's control over inflation. Boockvar also analyzes the latest earnings from major tech firms, comparing high performers like Meta and Microsoft to underwhelming results from others like Google. His sharp observations reveal the complexities of navigating today’s markets.
AI Snips
Chapters
Transcript
Episode notes
Tariffs Are A Hidden Tax
- Tariffs around 15% mostly depress U.S. growth as American businesses and households absorb most costs.
- Global supply chains get disrupted, causing a potentially multi-year inflationary impact that the Fed must consider.
Fed's Delicate Tightrope Walk
- The Fed faces the dilemma between inflation risks and weakening growth amid tariffs and slow economic data.
- Financial conditions remain easy, which complicates Fed decisions about interest rate cuts.
Powell Defies Political Pressure
- Powell prioritizes his legacy and rejects cuts motivated by political pressure from Trump.
- Rate cuts would occur only if justified by economic data, with some dissenters expected at the upcoming Fed meeting.