Liz Peek joined Larry Kudlow and Kenny Polcari on Fox Business today to break down what’s moving markets — and the short answer is Iran. She pointed to the recent CPI and PPI reports as genuinely encouraging, noting that food at home showed zero change and the only real trouble spots trace back to energy. With oil futures sitting in the low-to-mid 70s and heading lower, she argued that if the Iran situation resolves, inflation essentially takes care of itself.
On the geopolitical front, Peek made the case that economic pressure has always been the more effective weapon against Tehran — more than any military threat. Iran’s bravado, she said, is running on fumes. They don’t have much left. She expressed some surprise that the standoff has dragged on this long, given the various factions inside Iran all jockeying for position, but said she can’t imagine the world tolerating indefinite harassment in the Strait of Hormuz.
Her sharpest commentary came on the media and Democratic opposition to Trump’s Iran push. She called out New York Times columnist Tom Friedman by name, saying his admitted reluctance to cheer for a U.S. win because it might benefit Trump and Netanyahu politically was appalling. Her argument: that kind of public negativity doesn’t just embarrass — it actually signals to Iran that Trump is under domestic pressure, which hands the enemy leverage at the negotiating table.
On the economy more broadly, Peek pointed to Bank of America Institute data showing March consumer spending was the strongest since early 2023. With earnings coming in solid, AI momentum building, and the S&P kissing 7,000, she saw the market’s 8-to-10-day winning streak as more than noise — it’s the smart money pricing in a deal.
