Squawk on the Street SOTS 2nd Hour: Iran Flashpoints, Rate Hike Questions, & Super Micro's Smuggle Trouble 3/20/26
Mar 20, 2026
Christina Parchanelos, CNBC reporter who broke the Supermicro chip-smuggling story. Randy Kroszner, former Fed Governor and economist. Michael Froman, CFR president and former U.S. Trade Representative. They cover Iran flashpoints and risks to shipping lanes. They dig into market moves tied to oil, inflation and Fed policy. They unpack the Supermicro smuggling allegations and industry fallout.
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Market Now Prices Higher For Longer Rates
- Markets are shifting from pricing cuts to pricing higher-for-longer rates as oil spikes and Fed leadership uncertainty push December Fed funds futures up.
- Sara Eisen and panel note oil-driven inflation and Powell/Warsh uncertainty quickly reversed cut odds into potential hikes.
Inflation Focus Could Mask Growth Risks
- Markets may be focused on inflation risk while underpricing a separate growth slowdown risk, creating asymmetric scenarios.
- Bank of America quote highlighted that inflation dominates attention even though growth-disruptive scenarios could be underpriced.
Wait For A Flush Before Buying Aggressively
- Stay defensive but ready to buy a washout; Truist still favors the bull market but expects more oversold signals before a clearer entry.
- Keith Lerner cites rising put-to ratios, 52% AAII bears, and selling in SPDRs as signs more downside may be needed.