RenMac Off-Script: Stewie Can't Be Fed Chair

RenMac Offscript, recorded on Black Friday, November 28th, 2025, features Steve Duttenhofer, Jeff deGraaf, Neil Dutta, and Steve Pavlick discussing markets, economics, policy, and current events. The panel begins by discussing football and transitions to consumer behavior during the holiday season, with a skeptical view of consumer discretionary stocks. They analyze consumer sentiment data, potential Fed actions, and the significance of the two-year yield. The conversation shifts to international relations, specifically Japan-Taiwan relations, and USMCA trade agreement reviews. They also discuss potential candidates for Fed chair and the implications of different appointments. The podcast concludes with a discussion on productivity, the potential impact of tariffs and regulations on profit margins, and a look ahead at the week's economic data releases, including ISM and ADP employment figures. They also touch on the impact of tax refunds on consumer spending and highlight the performance of defensive versus cyclical sectors in the market.