Fed Holds Rates Steady, QXO Buys Beacon Roofing, Cramer Continues West Coast Tour 3/20/25

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Carl Quintanilla (0:59)

Market Moving Insight and Analysis join Jim Cramer, David Faber and me, Carl Quintanilla on the opening bell hour of CNBC Squawk on the Street.

David Faber (1:07)

Good Thursday morning. Welcome to Squawk on the Street. I'm David Faber right here at Post 9 of the New York Stock Exchange. Jim Cramer, well, he continues that West Coast tour. He's now in Vegas. He's got a few more interviews that are lined up. Looking very dapper there as well in that nice gray suit there.

Jim Cramer (1:24)

Well, you know, it's home depot. You got to look good. You got to look your best.

David Faber (1:26)

Yeah. There you go. All right. We're going to give you a look at futures right now, Jim, before we get talking. As Joe just said, we are looking for a lower open. You can see after a nice rally yesterday on Fed Day. Our roadmap does begin with the Fed tariffs and inflation. The president, by the way, late last night, saying rates should be cut to ease the economy's tariff transition.

Plus, Tesla shares, they're still under pressure, now on track for what would be the longest weekly losing streak ever. The company also recalling most Cybertrucks, that's most of the ones that are out there, at least to fix an exterior panel concern. Beacon Roofing, it agrees to that 7.7 billion buyout from QXO. We're going to have the chairman and CEO of QXO, Brad Jacobs, he's going to join us, both of us, me and Jim this hour. All right, let's get to that dapper looking Cramer. Why are you in a Home Depot and why are you in Las Vegas?

Jim Cramer (2:27)

We've got all the managers here. Remember, we're about to have what I regard as Home Depot's Christmas season, which is the gardening season. Those of us who are gardeners, my 37th this year, know that it all starts at Home Depot, whether it be the flats or the seeds or all the great equipment. So there's no place to start the season, even though in New York and New Jersey, it's literally been coming to Home Depot.

David Faber (2:50)

Nice. All right. Yeah.

Jim Cramer (2:52)

It's a good explanation. All the managers are here.

David Faber (2:55)

Thank you.

Jim Cramer (2:57)

You love Home Depot, right? You love it.

David Faber (2:59)

Sure. I actually have spent some time at Home Depot. So look at that.

Jim Cramer (3:02)

You got a good line up coming up as well. You've not spent 15 minutes in Home Depot.

David Faber (3:06)

I have. I've been a little one up in your house in Connecticut. I have. I bought a drill. I bought a lot of stuff there, not that I ever used it, but yeah, an axe.

Jim Cramer (3:17)

I want to be certain you've never really dabbled in anything inside the house.

David Faber (3:22)

No, I've walked the aisles many times, many, many times. All right.

Let's get to the markets now, Mr. Cramer, shall we? Because we're coming off that nice rally, of course. That was yesterday. The Fed holding rates steady, as all our viewers know. Still said there could be two cuts. Certainly, that's still on the table this year. When asked if he expects tariffs to have a long-lasting inflation impact or an impact on inflation, here's what Chair Powell said during his press conference yesterday.

Jerome Powell (3:51)

It can be the case that it's appropriate sometimes to look through inflation, if it's going to go away quickly without action by us, if it's transitory. That can be the case in the case of tariff inflation. I think that would depend on the tariff inflation moving through fairly quickly and would depend critically as well on inflation expectations being well anchored.