Squawk on the Street SOTS 2nd Hour: Fed Gov. Lisa Cook’s Case Heads To Court – Latest Analysis, Plus: Affirm & Celsius CEOs 8/29/25
Aug 29, 2025
Max Levchin, the innovative founder and CEO of Affirm, joins the discussion on current consumer trends. He explains how Affirm's performance reflects the state of consumer sentiment in light of recent economic data. The conversation delves into the impact of inflation expectations and upcoming tariffs on spending behaviors. Levchin emphasizes the importance of transparency in financial products and the evolving landscape of lending. Additionally, he touches on strategic moves within the corporate sector, including Affirm's strong earnings amid market fluctuations.
AI Snips
Chapters
Transcript
Episode notes
Pre-Office Conduct Versus In-Office Cause
- A key legal dispute is whether alleged misconduct before taking office can qualify as cause for removal.
- Cook argues only in-office malfeasance should count, while the administration says pre-office conduct can suffice.
Consumer Sentiment Is Mixed
- Consumer sentiment showed mixed signals: current conditions improved while expectations fell, pulling headline sentiment down slightly.
- Short-term inflation perceptions eased a touch, but longer-run inflation expectations remain elevated.
Soft Spending Meets Sticky Inflation
- Mark Zandi views the economy as soft with real consumer spending largely flat since the year started.
- He warns tariffs and rising PCE trends could keep inflation high while growth weakens.