Kevin Warsh is sworn in as Fed Chair. Analysts Michael McKee and Stuart Paul discuss his hawkish stance, the likelihood of rate hikes over cuts due to persistent inflation and the Iran war, and his desire to move away from forward guidance and the dot plot. The consensus is that Warsh will prioritize independence and price stability, keeping rates on hold or higher.

Nakul Duggal discusses Qualcomm's expanded partnership with Stellantis to deploy its Snapdragon Digital Chassis across all Stellantis brands starting in model year 2028. This includes AI-powered in-cabin experiences and self-driving capabilities. He sees automotive as a key growth area, with the business growing 25%+ annually, and expects AI to drastically accelerate in cars over the next two years.

Stu Leonard Jr. reports that sales are brisk but customers are complaining about high food prices and overall expenses. Prices at his store are up about 3% year-over-year, driven by meat costs. He notes consumers are switching to cheaper proteins like chicken and pork. He is optimistic that beef and fuel prices will come down once the Middle East situation resolves, but warns that labor costs are sticky and will remain inflationary.