Squawk on the Street Big Bank Beats, $40B AI Deal, Bessent and Miran at CNBC's Invest In America Forum 10/15/25
Oct 15, 2025
Stephen Miran, a Fed Governor with insights into monetary policy, discusses the urgency of moving policy to a neutral rate more quickly. He explains why current conditions warrant faster rate cuts compared to previous years, and how shifts in the neutral rate influence decisions. The podcast also covers Treasury Secretary Scott Bessent's sharp critique of China's trade strategies, while exploring a significant $40 billion AI data center deal among major players like Blackrock and NVIDIA, showcasing the rapid evolution in enterprise AI adoption.
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Shutdown Raises Economic Uncertainty
- The government shutdown delayed key CPI data and is starting to bite into the real economy according to hosts and guests.
- Market participants and the Fed will need to account for nonlinear shutdown impacts on payrolls and spending.
Unified Bank Model Pays Off
- Morgan Stanley reported strong across-the-board revenue and wealth inflows, driving stock gains.
- The quarter illustrated the power of a unified bank combining IB, trading and wealth management.
Demand Proof Before Betting On Enterprise AI
- Evaluate enterprise AI by watching live customer implementations and measurable cost or revenue impact.
- Look for proof points from major customers before assuming generative AI will transform a business line.