The markets are moving higher as the Treasury Department unveils a plan to relieve the recent bond market pressure. Brian Sullivan and Kelly Evans are joined by Former Bridgewater Associates Chief Market Strategist, Rebecca Patterson, and Cboe Senior VP of Retail and Alt Investments, JJ Kinahan, to break down the latest Fed minutes and give their take on the state of the economy. Later, the anchors sit down for an exclusive interview Etched CEO &amp; Co-Founder, Gavin Uberti, to talk about his company’s latest $700 million fundraising round led by Jane Street. Tiger 21’s Michael Sonnenfeldt also joins the program to reveal the key highlights from his company’s Q2 allocation report which provides an overall picture of where the ultra-wealthy are investing their capital. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

July Fed Minutes, Etched CEO Interview, Latest Ultra-Wealthy Investments 8/19/26

Power Lunch

Moderna exploding higher bond yields. They're lower, all under the surface of an otherwise quiet day for stocks. Welcome to Power Lunch, everybody, with Kelly, I am Brian. Long dated bond yields, they're down. Uncle Sam stepping up the debt buybacks. In the meantime, healthcare, energy, new records, the setup for markets, and the fate of the AI trade all coming up. And remember this guy, Coy? He was on set with us just months ago. Now his parent company, Unitree, is leaping higher in its Shanghai debut.

So where can investors get a leg up on robotics here at home? Plus, we're not done with chips. Three 24-year-olds, a $21 billion valuation, and one of Silicon Valley's hottest startups. The CEO of Etched joins us exclusively. But let's begin with some breaking news out of Washington, D.C. The July Fed Minutes just posted. This is all we get out of the Fed anymore, Steve. The minutes for the July meeting, Kelly, say that most supporters maintaining the current range.

However, many thought a policy tightening would likely be necessary if inflation did not decline. Important to note, there was a softer inflation report after this came out. Participants thought new information that they gathered between the meetings could help them make a decision to take some of the uncertainty out of it. Some saw financial conditions not tight enough to bring inflation down to 2%. Chairman Warsh spoke in favor at this meeting of six meetings per year, saying it would allow more information to accumulate between meetings.

There's quite a robust inflation debate at this meeting. Several saw price increases as broad-based over the past year, saying underlying inflation looked to be elevated, even after accounting for tariffs and those higher energy prices.

July Fed Minutes, Etched CEO Interview, Latest Ultra-Wealthy Investments 8/19/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

July Fed Minutes, Etched CEO Interview, Latest Ultra-Wealthy Investments 8/19/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.