Charles Payne Show September 3, 2026

Summary

The segment discusses Fed signaling around the September FOMC meeting, with Waller and Williams hinting at a hold while Chair Warsh's recent Jackson Hole tone remains hawkish. The guests explain the rise in global yields through structural term premia and energy prices tied to the Iran conflict. Joseph Wang argues that resolving the conflict would push yields and inflation down and lift stocks, while Greg Dao warns that elevated rates could pressure equities if they become a larger discount factor.

• Waller and Williams suggest the Fed is close to holding in September if inflation continues toward 2%.
• Joseph Wang views Waller's latest comments as dovish, contrasting with Chair Warsh's recent hawkish tone.
• Global yields are rising due to structural term premium drivers including debt, inflation volatility, AI investment demand, and central bank credibility concerns.
• Energy prices tied to the Iran conflict are seen as a key common driver of global yields.
• War resolution is expected to lower yields and inflation and boost the stock market.
• Greg Dao warns higher rates may weigh on equities if they become a larger discount factor.
• PCE methodology changes may mechanically lower measured inflation.
• Slowing wage growth suggests Fed tightening would be risky for Main Street.