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Closing Bell

Closing Bell Overtime: The Fed Keeps Rates Steady; UWM CEO On Housing Impact 6/18/25

Closing Bell

CNBC

Business, News

4.8118 Ratings

🗓️ 18 June 2025

⏱️ 44 minutes

🧾️ Download transcript

Summary

Markets digest the Fed's latest signals after keeping rates unchanged with David Zervos of Jefferies and former Richmond Fed President Jeffrey Lacker. Our Eamon Javers reports on the latest from the Middle East, while Sassan Ghahramani of SGH Macro Advisors assesses how geopolitical risk is being priced. Mat Ishbia, UWM CEO, weighs in on the mortgage and rate outlook. Barbara Doran of BD8 Capital joins with her take on positioning for the back half of the year.

Transcript

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0:00.0

That bell marks the end of regulation.

0:04.2

National Conference on Public Employee Retirement Systems ringing the closing bell at the New York Stock Exchange,

0:09.0

slide insurance doing the honors at the NASDAQ, and stocks ended the game mixed.

0:13.0

With the NASDAQ the only indexed higher, as the Fed gave the market exactly what was expected, leaving rates unchanged.

0:20.0

The Fed did raise the near-term measure of inflation

0:22.4

expectations and lowered its GDP forecast. Circle seeing a big jump after the Senate passed

0:27.9

the highly anticipated stable coin bill overnight. Coinbase also hires as it debuts the stable

0:33.2

coin payment system. Steel names on the move, nuke or higher after issuing guidance that beat

0:38.4

analysts estimates. On the flip side, steel dynamics lower as second quarter earnings

0:43.0

targets fell short of expectations. Lift and Uber both lower after Raymo announced that it

0:48.0

has applied for an autonomous driving permit in New York City and chip stocks among

0:52.9

the leaders led by Marvell, Intel, and Micron.

0:56.3

Marvell raised its forecast for the market for custom AI chips.

1:00.5

Well, that's the scorecard on Wall Street.

1:02.8

Welcome to Closing Bell overtime.

1:04.4

I'm Morgan Brennan, along with John Fort.

1:06.3

Ahead.

1:07.1

Former Richmond Fed President, Jeffrey Lacker, on the Fed's latest rate decision, does the Fed have the luxury of being patient?

1:14.2

Plus, a look at the state of the housing market as the latest data continues to disappoint.

1:18.5

And what will it take for the U.S. to get more involved in the Iran-Israel conflict?

1:23.5

But we begin with today's Fed decision as they leave rates unchanged.

1:27.5

CNBC Senior Economics Reporter Steve Leesman was in the room for today's news conference,

...

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