Mounting inflation concerns could put Trump&#x27;s pick for Fed Chair in a bind. The company Wells Fargo says is the &quot;best-positioned&quot; name in the AI race. Plus, a rough week for memory stocks but will the dip be short-lived?<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fed's Inflation Battle, the Alphabet Case, and the Memory Meltdown 3/27/26

The Exchange

# Full Transcript

**Podcast:** The Exchange

## Participants

- **Kelly** (None)
- **Eamon Javers** (CNBC)
- **Roman Schweitzer** (TD Cowan)
- **Steve Leesman** (CNBC)
- **Barry Knapp** (Ironsides)
- **Charlie Brinskoy** (Ariel Investments)
- **Mehdi Hossaini** (Susquehanna)
- **Mackenzie Sigalos** (CNBC)

## Transcript

You're listening to The Exchange. Here's today's show.

Big story, with the 10-year at its highest level since July now sitting around 441, and oil prices remain elevated as well. This is where all the focus is, arguably the most important data point in the whole market right now. WTI crude, 98, about to kiss 99 with a 4.5% gain. Even as the president has given this extension on his deadlines for the Iran war, red crude is up to 111 or so today.

And of course, we're watching the memory trade, which is rebounding, but big losses for the week after the AI disruption continues. Micron is down 14% in five days, although rebounding about 2% today. But let's begin with the latest on Iran, and Eamon Javers is live at the White House, Eamon, where the market is just frustrated, I guess we could call it, with the developments at this point. Kelly, that's right. And take a live look right now at the South Lawn.

And you'll see that President Trump is on the other side of this building, and he is addressing a group of farmers right now about some agricultural issues. And we'll monitor those comments to see if he says anything about the war in Iran and also on farming policy. A new report this morning, though, casting some doubt on how much of the Iranian missiles, Iranian military's missile capacity has been destroyed at this point in the war. It's a key war aim of the Trump administration and citing five people familiar with U.S. intelligence.

The report from Reuters says that the United States can only determine with certainty that it has destroyed about a third of Iran's vast missile arsenal so far in the fighting. And Reuters also found that the exact status of about another third of that capacity is less clear, but it is likely that bombings damaged, destroyed or buried those missiles in underground tunnels and bunkers. That's according to four of the sources that Reuters was citing.

Now, that's in stark contrast to the upbeat tone of briefings that we've had from the Pentagon and the White House so far in this war. And it does raise questions about how long it would take the U.S. military to reopen the Strait of Hormuz using force given the remaining missile capacity. We heard the president talking about that yesterday in his cabinet meeting and acknowledging that even with a small percentage of its missile capacity online, Iran can still harass civilian shipping in the crucial Strait of Hormuz.

Now, a White House official tells me that in this event that we're watching right now, the president is going to issue some new guidance for the diesel exhaust fluid requirement, which the White House says is going to help lower prices fo...

Fed's Inflation Battle, the Alphabet Case, and the Memory Meltdown 3/27/26

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Fed's Inflation Battle, the Alphabet Case, and the Memory Meltdown 3/27/26

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.