Squawk Pod: 25 Years Later - 09/11/26 | Audio Only

Summary

The episode marks the 25th anniversary of 9/11 with Tom Michaud, CEO of KBW, discussing the loss of 67 colleagues and the resilience and unity that followed. The show also covers a down week in markets, rising oil and Treasury yields, and a hot CPI report that leaves the Fed widely expected to hike rates. AI safety concerns remain in focus as Jensen Huang dismisses cybersecurity-driven fear, Trump emphasizes US-China AI competition, and Stanley Druckenmiller reportedly cuts AI exposure.

• 9/11 25th anniversary remembrance with KBW CEO Tom Michaud.
• Markets down for the week; Dow worst week since March but still near highs.
• Oil, diesel, and gasoline prices elevated; diesel above $6/gallon.
• Treasury yields rise; 30-year at highest since 2007; mortgage rates above 7%.
• CPI report hot; Steve Liesman sees 88% odds of Fed hike next week and 82% odds by December.
• AI safety debate: Jensen Huang blames cybersecurity for fear narrative; Trump focuses on US-China AI race.
• Stanley Druckenmiller reportedly cut AI investments and says rate cuts no longer needed.
• Tom Michaud says banks and financial system are strong; highlights fintech in NYC.