Fed's Waller Talks July Rate Cut, Trump's "Two Weeks" Message, Tesla Robotaxi Countdown 6/20/25

Squawk on the Street

CNBC

Investing, News, Business

4.1 • 567 Ratings

🗓️ 20 June 2025

⏱️ 43 minutes

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Summary

Carl Quintanilla, Sara Eisen and Michael Santoli discussed stocks getting a lift -- after Fed Governor Christopher Waller told CNBC he believes the Fed could be in a position to cut rates as soon as July. The Middle East conflict also on Wall Street's radar: President Trump said he will decide within two weeks whether the U.S. military will join Israel in its attacks against Iran. The anchors interviewed a critic of Tesla's robotaxi launch expected to take place Sunday in Austin, Texas. CNBC investigates whether big tech should get multi-million dollar tax breaks for their data centers -- and how those deals are impacting state economies. Also in focus: Kroger jumps, Microsoft layoffs, a $1 trillion AI pitch from SoftBank CEO Masayoshi Son. Squawk on the Street Disclaimer

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0:00.0	Market moving insight and analysis join Jim Kramer, David Faber, and me, Carl Kintanio, on the opening bell hour of CNBC Squawk on the Street. Good Friday morning, welcome to Squawk on the Street. I'm Carl Kinteneo with Sarah Eisen, Mike Centolia post-9 of the New York Stock Exchange. Kramer in favor of the morning off. Premarket is holding gains as the president sets this two-week window on any decisions regarding U.S. action in Iran,
0:21.6	whose leaders, by the way, are holding talks with EU officials in Geneva today.
0:25.6	Oil is above 75, but it's off the highs.
0:28.6	Our roadmap begins with some of the geopolitical and macro risks for stocks.
0:32.6	Investors watching the Israeli-Iranian conflict as it enters a second week
0:36.6	and weighing the latest outlook look from Fedshire Pal.
0:40.2	Plus, one analyst calling this weekend's expected Tesla Robotaxi launch, a key move on its path to a $2 trillion valuation.
0:48.2	But we are joined by a vocal critic sounding the alarm on Tesla's autonomous driving efforts.
0:53.0	And Big Tech's AI ambition, SoftBank reportedly eyeing a U.S. AI hub,
0:57.7	NVIDIA seeking humanoid robots at a Texas AI plant,
1:01.0	and META continuing its big spending spree in the space.
1:03.6	We'll hit all of it.
1:04.8	Let's begin with the markets this morning and the Fed as we do wrap up this holiday shortened trading week.
1:09.4	This is what Fed Governor Waller had to say about rate cuts a few moments ago on SquawkBox.
1:15.1	Right now, the date of the last few months has been showing that trend inflation is looking pretty good,
1:19.6	even on a 12-month basis.
1:21.8	So I've labeled these good news rate cuts when if inflation comes down to target,
1:29.1	we can actually bring rates down. I've saying this since about november of 23 so i think we're in that position
1:34.9	that we could do this and as early as july a pretty consistent message from waller who was on
1:42.7	with us several months ago arguing for i think at at the time, it was four cuts in 25.
1:47.0	The difference now is that it doesn't feel like he is where the center of the Fed is because there were, what, seven dots or forecasts at the Fed that didn't want to see any change, even though they kept their median as two cuts this year. Look, Waller consistently has said
2:03.4	we need to look through any tariff price increases. It'll be a one-time effect and just get
	...

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