Squawk on the Street SOTS 2nd Hour: A Divided Fed - Where Things Stand, AI Cyber Threats, & LIVE: Ares CEO, Magnum Ice Cream CEO 12/10/25
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Dec 10, 2025 Michael Arougheti, co-founder and CEO of Ares Management, shares insights on private markets and anticipates a rise in M&A activity. Jack Hittery, CEO of Sandbox AQ, discusses a crucial Pentagon partnership aimed at countering AI-driven cyber threats and the importance of post-quantum standards. Meanwhile, Peter de Kluet, CEO of Magnum Ice Cream, reveals strategies behind their recent spin-off, focusing on market growth, product quality, and adapting to consumer demands amidst a competitive landscape.
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Divided Fed And Likely Cautious Cut
- The Fed faces a genuine split driven by mixed labor data and sticky inflation, making a 25bps cut likely but with cautious language.
- Markets expect a cut, so Powell may prioritize unity and data-dependent guidance to avoid surprising investors.
Dots Drive Market Reaction Not Future Certainty
- Dot plots and committee dissents will matter more for market reaction than for long-term prediction.
- Expect language emphasizing data dependence rather than firm commitments to a future cutting path.
Seek Unity In Fed Communication
- Alan Blinder advises the Fed to seek unity and frame communications carefully to avoid undermining credibility.
- He expects Powell to appeal for coherence and limit public dissents where possible.