The Fed’s Endgame, Alaska Air Turbulence, and Alphabet’s Bull Case 7/25/23

Wondering what to expect and how to position ahead of the Fed’s decision on interest rates? Former Pimco chief economist Paul McCulley joins us with his thoughts. Plus, an exclusive interview with Alaska Air CEO Ben Minicucci after the company’s revenue guidance fell short of expectations. And Alphabet’s results are on deck as the megacap tech giants begin to report. We’ll speak with one analyst who’s staying bullish on the stock and says it’s trading at a steep discount to the market.

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"The Exchange" on CNBC is a one-stop shop for the day's top business stories, along with breaking news and the must-see market movers heading into the back half of the trading day. This newsroom-based program also features lots of original reporting, in-depth conversations and showcases CNBC's award-winning investigative work.