Closing Bell: The Rally, the Fed and Your Money 1/8/26

Closing Bell

CNBC

Business, News

4.8 • 118 Ratings

🗓️ 8 January 2026

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

The President says he has settled on a new fed chair in a new interview with the New York Times. We discuss with the Wall Street Journal’s Nick Timiraos. Plus, Walter Isaacson gives his take on some high-profile announcements out of the White House over the past 24 hours aimed at big business. And, Apollo’s Torsten Slok maps out his outlook for the economy and where he sees rates headed in 2026.

Transcript

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0:00.0	All right, guys, thanks so much. Welcome to closing bell. I'm Scott Wobner live from Post 9,
0:04.8	right here at the New York Stock Exchange. This make-a-break hour begins with, of course, the rally.
0:08.8	The scorecard with 60 minutes to go in regulation looks like this. Yes, the Dow is higher today.
0:15.0	We've been on 50,000 watts. We're a ways away, obviously, but it is a big round number that we have our eye on. We have our eye on the
0:22.9	Russell 2002 of another 1% today. That's stealing the show. Another all-time high. The small caps
0:28.9	are continuing their early year streak, a nice even 2,600 for the Russell. We'll ask our experts
0:35.8	over this final stretch where stocks are likely to head
0:38.1	from here. How about this question? Is capitalism as we knew it dead? Author and thought
0:43.9	leader Walter Isaacson weighing in as the Trump administration leans more into corporate America's
0:49.6	business this week. First word from the president himself that he's settled on a new Fed chair. Those comments
0:56.4	coming in an interview with the New York Times today. The who still unknown might not be for
1:02.0	that much longer though. For more, let's bring in Nick Timmeros of the Wall Street Journal. He, of course,
1:06.9	on the Fed beat. Nick, I appreciate you joining us. So the president was asked about this
1:12.5	by the New York Times says, quote, I have in my mind a decision. I haven't talked about it with
1:18.6	anybody. He was asked about Hassett directly and said, quote, he is certainly one of the people
1:23.9	that I like. If you were a betting person, would you have your money on Mr.
1:28.5	Hassett? Well, I'm not a betting person, but I think you have, Scott, the two Kevin's in front.
1:34.7	That hasn't changed. I mean, if you go back six months ago, you go back to June and the president
1:41.2	was telling reporters he had made up his mind and he was going to be announcing his pick very soon.
1:47.6	That was in June of last year.
1:49.1	So I think there's also sometimes people talk about a first mover advantage.
1:54.1	I think there's maybe a last mover advantage here where the last voice gets undue weight here.
	...

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