Great interview on September 16th, one of my favorites of the year. Maria and I had extra time to run though the top questions investors want to know.
China trade talks? This isn't about TikTok, it's about rare earths and chips. Underneath the surface, we need materials for defense, they need access to our advanced semiconductors for the same reason.
Market positioning? AI is still king of spending cycle, but clear trade policy and slow Fed cuts will prop up US manufacturing. It's all about the big tech and small value in a giant barbell.
Fed meeting and outlook? Expect a tech selloff. Nothing Powell will say will be good enough. If it is, it will look like he is caving into Trump.
Retail sales? It's all about the top 20% wage earning consumer. If that cracks? All bets are off. Don't focus on the lowest earners, it's not what drives the market.
Enjoy!