Squawk on the Street SOTS 2nd Hour: Alphabet Record Highs, Musk's Chip Ambitions, & LIVE: Former Treasury Secretary Jack Lew 11/24/25
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Nov 24, 2025 Former U.S. Treasury Secretary Jack Lew joins the conversation, sharing his insights on the volatile economic landscape. He highlights how tariffs and federal deficits may elevate consumer prices. Lew discusses the broader implications of potential government shutdowns on lower-income Americans and emphasizes the importance of stable policy amidst geopolitical challenges. The talk also touches on Elon Musk's AI chip ambitions and Alphabet's record-breaking stock performance, reflecting on how these tech movements intersect with economic trends.
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Sticky Inflation Complicates Fed Timing
- Inflation has fallen from its COVID peak but remains sticky, especially in services and housing.
- That stickiness complicates the Fed's decision on near-term rate cuts and economic policy.
Market Exhaustion And The Fed Cut Link
- Citi calls this year an 'exhausting' stretch as investors face repeated macro shocks and high expectations.
- Markets need continued earnings growth or a December Fed cut to justify material upside from current levels.
Amazon's Kuiper Push Faces Starlink Lead
- Amazon launched a Leo Ultra antenna for enterprises while still far behind SpaceX's Starlink constellation.
- AWS integration and launch partnerships (including SpaceX) are central to closing the gap next year.