SOTS 2nd Hour: Alphabet Record Highs, Musk's Chip Ambitions, & LIVE: Former Treasury Secretary Jack Lew 11/24/25

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 24 November 2025

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Sara Eisen, and David Faber kicked off the hour with a debate over the state of inflation - and what it means for the Fed - on the heels of new data out of NABE... with key analysis from Citi's U.S. Equity Strategist Scott Chronert soon thereafter. Plus: tech yet again the focus of early trading - the team started with breaking news out of Amazon when it comes to their satellite business, before also getting a breakdown of Elon Musk's AI chip ambitions (helping boost Tesla shares), and a deep-dive on Alphabet's big move higher to fresh record highs. Also in focus: the state of the economy - and what a volatile government could mean for markets, in a wide-ranging and rare interview with former Treasury Secretary Jack Lew this hour. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Monday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl
0:09.8	Continia. I'm David Faber. We are live, as always, from post nine of the New York Stock Exchange.
0:14.4	Today, Alphabet piling on more gains, opening at a record high as a key figure in tech gets
0:19.3	bullish about Gemini 3. Those details ahead.
0:22.5	Plus, former Treasury Secretary Jack Liu is with us as recession talk bubbles back up and investors
0:27.7	look for signs from a divided Fed. And we will talk more about Bitcoin's volatile weekend as prices
0:33.8	stay firmly below $90,000 a coin, below $86,000 right now.
0:39.3	But guys, just wanted to start on a new economic forecast and inflation outlook from NAEP.
0:44.3	This is the National Association of Business Economists.
0:46.3	So professional forecasters on their outlook for the economy,
0:50.3	it improves a little bit from the last forecast, which was in October.
0:55.0	They now think 2.9% is what we're going to see in terms of inflation.
1:02.0	And that's really what we wanted to focus on today.
1:05.0	The 2.9% inflation forecast, they think it's going to calm down at 2.6% in 2026.
1:12.4	So easing slowly back down and it's not as high of a peak as they projected back in October.
1:20.5	Inflation was the hot subject of debate this weekend.
1:23.0	The Treasury Secretary was on NBC's Meet the Press, pushing back against this idea that the administration
1:28.7	is causing inflation. Listen.
1:32.3	Inflation hasn't gone up. And Kristen, the one thing that we're not going to do is do
1:38.2	what the Biden administration did and tell the American people they don't know how they feel.
1:43.3	They are traumatized, and over the Biden inflation, we have slowed inflation and we are
1:50.0	working very hard to bring it down.
	...

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