Squawk Pod

Gas prices may have peaked for now, but the road to lower inflation is long. Transportation Secretary Pete Buttigieg discusses the U.S. energy economy and the giant inflation reduction act crafted by Senate Democrats. Pro golfer Phil Mickelson and ten of his co-competitors have filed an antitrust lawsuit against the PGA after their participation in the Saudi-backed LIV tournament prompted suspensions from the PGA Tour. Tom Cruise’s performance in “Top Gun” impressed audiences, but not enough to lift Paramount Global’s stock price. CNBC’s Eamon Javers reports that cyber security firm Mandiant has released research on a fake news propaganda ring in China. Plus, Walmart has announced layoffs just a week after cutting its profit outlook. In this episode:Pete Buttigieg, @SecretaryPeteEamon Javers, @EamonJaversJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

St. Louis Fed President James Bullard says, with labor growth as strong as it’s been, it’s unlikely we’ve been in a recession–and we might have brighter economic days to come. In an extended interview, voting FOMC member Bullard discusses America’s path out of inflation, GDP growth in the second half of the year, and geopolitical and global health impacts on our economy. CNBC’s Beijing Bureau Chief Eunice Yoon reports on China’s response to House Speaker Nancy Pelosi’s contentious trip to Taiwan. Plus, Instagram’s head is making a big move, and ready to meet your match in the metaverse? Match.com says, not yet. In this episode:Joe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In our continuing coverage of the lawsuit against Pornhub parent MindGeek and Visa, hedge fund investor and Pershing Square billionaire Bill Ackman discusses the next steps he expects Visa and other credit card companies to take to ensure that their tools are not being used for harm. Founder and CEO of the Justice Defense Fund Laila Mickelwait shares how many victims of non-consensual and underage pornography have come forward since the suit was filed. Ackman also weighs in on the recession debate and America’s road map out of inflation. Plus, Speaker Nancy Pelosi has landed in Taiwan. In this episode:Bill Ackman, @BillAckmanLaila Mickelwait, @LailaMickelwaitJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A district judge has denied Visa’s motion to be removed from a lawsuit against MindGeek, Pornhub’s owner. The judge upheld the legitimacy of the plaintiff’s allegation that Visa “knowingly” provided the tool for the site to monetize child pornography. Micheal Bowe, the lead attorney for the plaintiff, discusses suit against MindGeek, the fallout for Visa, and the precedent this case could set for all credit card companies. The Ford Foundation is marking five years since investing $1 billion from its endowment into significant social issues. President of the foundation Darren Walker discusses the ESG thesis and shares an update on the fund’s return rate: 28% to date. Plus a lucky Illinoisan is now a billion dollars richer after winning the third largest Mega Millions jackpot in U.S. history. In this episode:Darren Walker, @darrenwalkerJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

As the Saudi-backed LIV Golf tournament begins, fans and athletes debate whether pros can simultaneously condemn human rights violations in Saudi Arabia and accept the Kingdom’s prize money. President of LIV Golf Atul Khosla tells CNBC’s Dominic Chu that it’s no different from a private equity fund’s commercial investment: just business. NYT foreign affairs op-ed columnist and author Tom Friedman discusses the geopolitics on New Jersey’s Bedmin green as well as other global headlines. He comments on President Biden’s two-hour phone call with President Xi Jinping, Nancy Pelosi’s upcoming trip to Taiwan, and the impact of China’s role in Ukraine on Sino-American relations. Plus, the power of the Kardashians: Instagram is rolling back its planned app changes after the influencer moguls brought their feedback to Meta. In this episode:Tom Friedman, @tomfriedmanBecky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKlaire Odumody, @klairemarie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Federal Reserve has once again hiked interest rates by 0.75%, but the markets breathed a sigh of relief at the central bank’s signal that the peak hikes might be behind us. Today’s GDP data revealed a second consecutive quarter of contraction in the US economy, which traditionally would constitute a recession; however, Fed Chair Jay Powell does not believe our country to be in a recession, despite the data. He, President Biden, Treasury Secretary Janet Yellen, and other economists are considering a different definition of “recession.” Former Vice Chair of the Fed Roger Ferguson unpacks the latest rate hike and the various components of a true recession. Whether or not we’re in one, consumers are feeling inflation’s squeeze on their wallets. President of Kraft Heinz North America Carlos Abrams-Rivera discusses the pressure on American families in the grocery store, and shares ways he’s hoping to keep mac & cheese and the rest of his portfolio accessible through a downturn. Plus, Meta reported its first ever revenue decline, and Washington is negotiating about a trillion dollars of new spending, including a new chapter of the Build, Back, Better agenda, following Sen. Joe Manchin’s surprising deal on certain key issues for Democrats. In this episode:Becky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Microsoft and Alphabet both missed analyst expectations in quarterly financial results, pointing to “uncertainty” ahead. Investors were buoyed by certain metrics, though, and Wall Street anxiously awaits the rest of tech’s earnings results. Despite Walmart’s warning to the Street and inflation pressures on the consumer, Visa execs have assured investors that the company hasn’t seen any sign of a spending slowdown. Disney has announced that Hulu will begin accepting political issue ads in addition to political candidate ads. Axios reporter Sara Fischer discusses the details of targeting ads for streamers, and crisis manager Eric Dezenhall explores the risk-reward calculus for Disney and its fellow media giants. And, Twitter is asking shareholders to vote in September for world’s richest man Elon Musk’s bid for the company – which he says he won’t do. But, the continuing fallout from the Wall Street Journal’s reporting about Musk’s alleged affair with Sergey Brin’s wife is what has Joe Kernen asking “just what happened at Art Basel in Miami?” In this episode: Sara Fischer, @sarafischerEric Dezenhall, @EricDezenhallBecky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKlaire Odumody, @klairemarie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Walmart has issued a dire warning to Wall Street, sending share prices of other retailers lower after cutting its profit outlook. Congress aims to move on U.S. chip manufacturing legislation this week. Senator Todd Young (R-IN) discusses moving the industry to the country’s heartland in the name of national security. Washington lawmakers are aiming to make it easier for consumers to use cryptocurrency in everyday purchases; Ylan Mui reports on plans for a future without a bitcoin capital gains tax for small buys. Plus, more of Elon Musk’s extracurriculars and the EU’s tenuous energy landscape. In this episode:Sen. Todd Young @SenToddYoungYlan Mui, @ylanmuiBecky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKlaire Odumody, @klairemarie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The U.S. economy may see two consecutive quarters of GDP contraction, but the White House isn’t ready to call it a recession. Whatever we call it though, today’s economic and political environment has pushed Americans to an unhappy place; host of ‘The Art of Happiness’ podcast Arthur Brooks says, both sides of the aisle are to blame. Brooks, also a Harvard professor and contributor for The Atlantic, discusses the loss of faith in capitalism and in America herself, and whether we’ll ever get back to national satisfaction. Plus, we’re tracking billionaire social circles and scandals and an appeal to grown-ups from Disney+. In this episode:Arthur Brooks, @arthurbrooksBecky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKlaire Odumody, @klairemarie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

President Biden has tested positive for covid-19, and the White House has shared his prognosis and treatment. Former FDA Commissioner Dr. Scott Gottlieb discusses the President’s health status, Paxlovid, and how pockets of unvaccinated communities could have prompted America’s first case of polio in ten years. FedEx is delivering a big change for customers, and American Express has scored points for shareholders with its impressive Q2 report. Plus, the Squawk Box segment that went viral! Aureus Asset Management’s Karen Firestone laughs about the meme-worthy moment in her (and her husband’s, and her dog’s!) markets hit this week. In this episode:Dr. Scott Gottlieb, @ScottGottliebMDKaren Firestone, @Karen_FirestoneBecky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Consumers are taking longer to pay their bills, says AT&T CEO John Stankey. In an extended interview, Stankey discusses the pulse of the American consumer, as well as his company’s renewed focus on 5G and smart devices after the company spun-off its content business, WarnerMedia. In a surprise decision, the European Central Bank has raised interest rates for the first time in over a decade; CNBC’s Steve Liesman, Joe Kernen, Becky Quick, and Andrew Ross Sorkin explain the significance of the move, particularly in light of the bloc’s energy turmoil. Tesla, once a crypto-believing company, has swapped 75% of its bitcoin holdings for fiat currency. Plus, the latest in Joe Kernen’s up-and-down viewing relationship with “The Old Man.” In this episode: John Stankey, @ATTSteve Liesman, @SteveLiesmanBecky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Nord Stream 1 pipeline, the main route for Russian energy passage to the rest of Europe, is set to start functioning again on Thursday, but EU leaders are concerned that the Kremlin won’t restart flows, especially after the majority state-owned energy giant Gazprom originally cut flows to 40% and is now suggesting that it cannot fulfill its energy contracts with the EU, even if the pipeline reopens as planned. Europe’s energy turmoil could spell bigger supply and cost problems in the U.S.; Transportation Secretary Pete Buttigieg discusses what’s next in energy geopolitics, at home and abroad. After an alarming first quarter, Netflix is quelling investor concerns with its Q2 report. Variety’s Cynthia Littleton and Engine Media’s Tom Rogers discuss what these financial results mean for the rest of the streaming landscape. Plus, the Elon Musk-Twitter saga could finally be reaching an end…maybe. In this episode:Pete Buttigieg, @SecretaryPeteCynthia Littleton, @Variety_CynthiaBecky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Johnson & Johnson beat analysts’ estimates on the strength of its pharmaceuticals unit despite the company cutting its profit forecast due to a stronger dollar. CFO Joseph Wolk blamed the forecast cut on currency fluctuations, pointing to the parity between the euro and the dollar. As the job market starts to cool down and companies begin to look for ways to save with a possible recession on the horizon, there is a renewed return-to-office debate. CNBC’s Hugh Son reports on slowed hiring at Goldman Sachs, and Harvard Business School professor Tsedal Neeley whether business leaders need to keep hybrid work to retain top talent, and if remote workers are at higher risk of being cut. In this episode:Hugh Son @Hugh_SonTsedal Neely @tsedalBecky Quick @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode:Amos Hochstein, @amoshochsteinClaire Atkinson, @claireatkiMatt Belloni, @MattBelloniJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The U.S. Congress is set to go on August recess, but Intel CEO Pat Gelsinger has a tough message for them before they go: pass the CHIPS Act, ASAP. America’s manufacturing industry has been waiting on government funding to produce tech’s all-important semiconductors for over a year, and Gelsinger says, it’s a matter of national security. We track the holdup in DC, the impact it’s having on job creation in America’s heartland, and the global chips supply chain. Plus, the USD is nearly at parity with the Euro, and President Biden is halfway through his Middle East travels. In this episode: Pat Gelsinger, @PGelsingerBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode: Sara Fischer, @sarafischerFrank Luntz, @FrankLuntzDom Chu, @TheDominoJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Inflation jumped 9.1% to a new 40-year high in June. CNBC’s Steve Liesman, Rick Santelli, and Mike Santoli unpack what today’s Consumer Price Index data means for the Federal Reserve and for consumer wallets. As a crypto winter puts serious pressure on the industry, some crypto lenders are collapsing. BlockFi found a lifeboat in crypto exchange FTX; in a CNBC-exclusive interview, BlockFi CEO Zac Prince explains why he discounted his company 95% to strike a credit and possible acquisition deal with FTX. Plus, Twitter is suing Elon Musk in hopes that he’ll keep his $44 billion word to buy the company, and Tulane law professor Ann Lipton lays out the possible legal moves from here–as well as any tricks Musk might have up his sleeve. In this episode:Zac Prince, @BlockFiZacAnn Lipton, @AnnMLiptonJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

It’s YOLO summer! Travelers are on the move, but airline and airport shortages are causing speedbumps. London’s Heathrow Airport is managing a staffing shortage by capping the number of passengers traveling per day and requesting that airlines stop selling tickets. Still, with so many people on the move, retail watcher Jan Kniffen wonders how many consumers will be around to take advantage of retailer sales like Amazon Prime Day. CNBC’s Courtney Reagan shares retail’s biggest sales and hurdles for the second half of the year, and Cleo Capital’s Sarah Kunst discusses the stickiest purchases for Amazon. In other retailer news, Gap CEO Sonia Syngal is stepping down. Plus, the Saudi Arabia-funded LIV Golf series has upended the sport; multi-million dollar payday offers for athletes have prompted backlash for pro-golfers and an investigation from the Department of Justice. On the Elon Musk front, his Twitter drama continues, and his latest SpaceX launch was “actually not good.” In this episode:Jan Kniffen, @JRogersKSarah Kunst, @sarahkunstCourtney Reagan, @CourtReaganJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Elon Musk is over Twitter. He’s aiming to terminate the $44 billion dollar deal, and Twitter’s ready to take him to court over it, but Musk is seemingly unbothered by the drama. Former SEC Chair Jay Clayton maps out the various outcomes at this stage in Twitter-Musk saga. Covid cases are ticking up as we head into the end of the summer, and while most of us have readjusted our individual risk calculus to allow for normal life, former FDA Commissioner Dr. Scott Gottlieb suggests keeping our masks on. Leaked documents from Uber’s past are raising questions about the company’s ethical foundation, and Starbucks is rolling back a new, potentially questionable offering. Plus, President Biden is gearing up for his first in-office trip to Saudi Arabia. In this episode:Dr. Scott Gottlieb,@ScottGottliebMDJoe Kernen,@JoeSquawkAndrew Ross Sorkin,@AndrewrsorkinCameron Costa,@CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Some recession we’re having, huh? A surprisingly positive jobs report for the month of June may defy fears of a looming economic slowdown. Payrolls increased by 372,000 jobs, above expectations. CNBC’s Steve Liesman and SoFi Head of Investment Strategy Liz Young discuss the robust labor market with Joe Kernen and Melissa Lee. Elon Musk and Twitter are still dancing around a possible deal; The Washington Post reports that Musk’s proposed $44B bid to buy the social media platform could be in jeopardy. Axios’ Sara Fischer and Cowan merger strategist Aaron Glick say that Twitter’s board is the one that could be flexing its power – Musk faces a billion-dollar break-up fee if he walks away. And, the latest from the mother of meme stocks: GameStop’s latest move to reinvent the brick and mortar video game retailer puts its CFO and other corporate employees out of jobs. In this episode:Sara Fischer, @SaraFischerSteve Liesman, @SteveLiesmanLiz Young, @LizYoungStratJoe Kernen, @JoeSquawkMelissa Lee @MelissaLeeCNBCKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

UK Prime Minister Boris Johnson is resigning, following a torrent of resignations from ministers in his government in the past 24 hours. CNBC Europe’s Steve Sedgwick reports on the scandals that have caught up with Johnson and the quick sea changes of UK conservative politics. As Wall Street parses through the market’s recession signals and portfolio managers brace for a deeper downturn, the luxury art market soars. The first half of 2022 broke records for the industry, marking the most ever paid for an American artist at auction ($195 million), and the most ever paid for a single collection (a cool $922 million). CEO of Masterworks Scott Lynn offers investors fractional ownership–equity shares–of blue chip works by the likes of Basquiat and Banksy, and he says, it’s an alternative asset worth the hedge. Plus, the market is working its way through the Federal Reserve’s reasoning behind its 75 basis point rate hike decision last month. In this episode: Scott Lynn, @ScottlynnSteve Sedgwick @Steve_SedgwickJoe Kernen, @JoeSquawkMelissa Lee @MelissaLeeCNBCKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A bevy of market signals have alarmed investors: oil prices slipping, a surprise Nasdaq rally, a yield curve inversion. As inflation remains elevated and recession fears loom over the markets, the Federal Reserve and the Biden administration balance their respective toolsets to mitigate pressure on the American economy. Austan Goolsbee, former CEA chairman and Booth School of Business professor, and fellow economist Michael Strain, director of economic policy at AEI, discuss whether their strategies are enough to avoid a deep recession. In other headlines, the FDA has temporarily paused the ban on Juul e-cigarettes, and senators are urging the Federal Trade Commission to investigate TikTok. Plus, many employees are willing to take a pay cut to work at companies that align with their own values; CNBC’s Sharon Epperson reports on how the pandemic has shifted purpose, well-being, and values to the forefront of employee-employer relationships. In this episode: Austan Goolsbee, @Austan_GoolsbeeMichael Strain, @MichaelRStrainJoe Kernen, @JoeSquawkMelissa Lee @MelissaLeeCNBCSharon Epperson, @Sharon_EppersonKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Meta is down 52% in 2022, and Mark Zuckerberg is bracing his shareholders for more tougher times ahead. He’s shuttering the company’s digital wallet project and announced a slash to engineer hiring; Cleo Capital’s Sarah Kunst says Zuckerberg’s revamped approach to employees could be what investors need. Plus, President Biden might be rolling back Trump-era China tariffs, Germany’s economic data has global investors on edge, July Fourth travelers had little to celebrate at airports this weekend, and Tesla’s EV competition could be catching up to Elon. In this episode: Sarah Kunst, @sarahkunst Joe Kernen, @JoeSquawk Melissa Lee @MelissaLeeCNBC Phil LeBeau, @Lebeaucarnews Eunice Yoon, @onlyyoontv Katie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Meta is down 52% in 2022, and Mark Zuckerberg is bracing his shareholders for more tougher times ahead. He’s shuttering the company’s digital wallet project and announced a slash to engineer hiring; Cleo Capital’s Sarah Kunst says Zuckerberg’s revamped approach to employees could be what investors need. Plus, President Biden might be rolling back Trump-era China tariffs, Germany’s economic data has global investors on edge, July Fourth travelers had little to celebrate at airports this weekend, and Tesla’s EV competition could be catching up to Elon. In this episode: Sarah Kunst, @sarahkunst Joe Kernen, @JoeSquawk Melissa Lee @MelissaLeeCNBC Phil LeBeau, @Lebeaucarnews Eunice Yoon, @onlyyoontv Katie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Flight cancellations continue to distrust travelers, and Dennis Tajer, spokesman for the Allied Pilots Association and pilot for American Airlines, is blaming airline management. He claims pilots are being pushed to the edge. In the markets’ roughest first half of the year since the 1970s, Netflix was the worst performing stock. It may have come down to their lackluster content, says Rich Greenfield of LightShed Partners. Cynthia Littleton, Variety co-editor-in-chief, joins Rich to discuss how the streamer’s innovation might have hit a roadblock. The last time the S&P had it this rough in the first half of the year, Joe Kernen looked like a backup singer for the BeeGees. In this episode:Rich Greenfield, @RichLightShedCynthia Littleton, @Variety_CynthiaJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Americans are feeling the pain caused by inflation, but New Jersey is hoping to help its residents with an historically large budget plan. Governor Phil Murphy (D-NJ) discusses how Jersey’s rebate will alleviate some of the pain, from property taxes to back-to-school supplies. The markets are set to close on the worst first half in more than 50 years. The Dow and S&P 500 are on track for their worst three-month period since Q1 of 2020, and the Nasdaq is on its worst run since 2008. Plus, drama escalates in the Spirit Airlines boardroom. In this episode:Joe Kernen, @JoeSquawkMelissa Lee @MelissaLeeCNBCAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_KatieGov Phil Murphy @GovMurphy Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Americans are gearing up to travel this Fourth of July weekend despite higher fuel and food costs this year. Amid record-high inflation, president and CEO of Best Western Hotels and Resorts Larry Cuculic says summer travel is surging in cities like Seattle, New York, and San Francisco. Stewart Butterfield, CEO of Slack, joins Andrew from the Aspen Ideas Festival to discuss what impact a recession could have on employers recalling workers to the office. He says the pandemic has proved that digital infrastructure is now more important than a physical HQ. Plus, a leader of the Federal Communications Commission has issued a warning about TikTok’s threat to American data security, and President of the Cleveland Fed Loretta Mester has voiced her support for a 75 basis point hike in July. In the episode:Stewart Butterfield, @stewartJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

As investors come to terms with a recession and the tech markets weather a downturn, we turn to legendary tech voices Cathie Wood and Eric Schmidt for guidance. Cathie Wood, founder of Ark Invest and a famous innovation bull, shares lessons from last year’s profits and losses. She maps out the biggest problems facing companies today, including inflation and supply chain issues. Eric Schmidt, former CEO and Executive Chairman of Google, joins from the Aspen Ideas Festival to share lessons from his past with a new generation of investors facing their first market downturn. He discusses competition with China, the promise of Web3, and the ebbs and flows of economic cycles as we face a recession. In this episode:Cathie Wood, @CathieDWoodEric Schmidt, @ericschmidtBecky Quick, @BeckyQuickAndrew Ross Sorkin, @AndrewrsorkinBrian Sullivan, @SullyCNBCKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We’re kicking off the week with a super-sized Squawk Pod! Three big interviews that all start with the key question Wall Street is asking: how bad is the impact of 2022’s high energy prices? Becky Quick and Brian Sullivan weigh the influence higher gas prices have on the stock market, and G7 leaders convene in Germany to discuss additional Ukraine support and new sanctions that include a proposal to cap the price of Russian oil exports. Goldman Sachs’ Jeff Currie says a brief pullback in global energy prices signals a buying opportunity for investors. Noted tech investor John Doerr has a legendary track record – he was an early back of both Google and Amazon – and today, he calls the shift away from fossil fuels a revolution that rivals the creation of the Internet. Andrew Ross Sorkin catches up with Doerr at the Aspen Ideas Festival in Colorado. NBCUniversal News Group is the media partner of the Aspen Ideas Festival. Plus, Home Depot co-founder and billionaire Ken Langone joins Squawk Box for a special interview that covers inflation, divisiveness and the complicated balancing act of policy and politics. In this episode:Jeff Currie, @goldmansachs John Doerr, @johndoerrBecky Quick, @BeckyQuickAndrew Ross Sorkin, @AndrewrsorkinBrian Sullivan, @SullyCNBCZach Vallese, @ZachVallese Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fresh reporting from Becky Quick on what happened inside the room with leading executives from the U.S. oil industry and Energy Secretary Jennifer Granholm. Inflation continues to run hot. Federal Reserve Chairman Jerome Powell says that the Fed is committed to fighting inflation “unconditionally” in a testimony to the House Financial Services Committee. Member of the committee, and Problem Solvers Caucus Co-Chair, Rep. Josh Gottheimer (D-NJ) wants to act aggressively to solve the problems of surging gas prices, expensive food costs, and fight inflation. Also, United Airlines says they are cutting dozens of flights in the Northeast due to staffing issues. Association of Flight Attendants International President Sara Nelson joins to address the massive amount of flight cancellations, rising ticket prices, and how to navigate the potentially messy summer travel season. In this episode: Rep. Josh Gottheimer, @RepJoshGSara Nelson, @FlyingWithSaraJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Big Oil executives head to Washington today for a meeting with the Biden Administration to go over a diminishing list of options to contend with the rising price of gas. President Biden announced plans to enact a “gas tax holiday” in the U.S. this summer, and has not received broad initial support. Amos Hochstein, State Department Special Envoy and Coordinator for International Energy Affairs, discusses the $0.18 reduction per gallon the holiday would save and the outlook for getting the policy through Congress. Mark Zuckerberg says a billion people will soon be spending their time – and money – in the metaverse, but Joe Kernen, Becky Quick and Andrew Ross Sorkin have differing ideas about what to actually do there. Plus, the FDA will ban the sale of Juul e-cigarettes. Squawk Box regular and former head of the regulator, Scott Gottlieb, weighs in on the vaping industry as well as the latest concerns about Covid-19 variants. And, more smaller cities will soon be harder to reach by airplane. To hear more from Mark Zuckerberg about Meta’s future, check out CNBC’s Mad Money podcast: https://www.cnbc.com/2018/03/01/mad-money-with-jim-cramer-podcast.html In this episode:Amos Hochstein, @AmosHochsteinScott Gottlieb, @ScottGottliebMDJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @AndrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A nationwide pilot shortage is prompting thousands of delays and cancellations for summer travelers. Dennis Tajer, American Airlines pilot and spokesperson for the Allied Pilots Association, says the staffing issues are due to management’s lack of foresight, and he warns that airlines may start to cut corners to keep up with demand. CNBC’s autos and airlines reporter Phil Lebeau considers how long it will take carriers to sort out their problems, and whether the federal government will have to step in to help. In this episode:Phil LeBeau, @LebeaucarnewsBecky Quick, @BeckyQuickBrian Sullivan, @SullyCNBCKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the wake of a turbulent market week, investor fears of a recession are growing in step with losses on Wall Street. Crypto hodlers are in pain, but investor and former NYSE President Tom Farley hopes the worst is behind them. Chair of President Biden’s Council of Economic Advisers Cecilia Rouse discusses inflation, the state of the economy, and the administration’s options to mitigate ever-rising fuel prices across the U.S., including a gas tax holiday. Plus, Mondelez is taking a Clif jump, and a pilot shortage is causing drama for travelers. In this episode:Joe Kernen, @JoeSquawkBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The S&P 500 is headed for its worst week since March of 2020, but famed buy-and-hold billionaire investor Ron Baron offers a ray of hope amid Wall Street’s worries. A Tesla bull and futurist investor, Baron likens today’s market with the opportunity that earned him billions in the 1980s. In an all-hands meeting with Twitter employees, Elon Musk addressed layoff and content moderation concerns. For consumers, inflation is still cause for worry; Rep. Ro Khanna (D-CA) discusses pump pressures for Americans and big profits for big oil producers in the U.S. Plus, we mark Juneteenth weekend by celebrating Black social media influencers in finance, with CNBC’s Frank Holland. In this episode:Ro Khanna, @RepRoKhannaFrank Holland, @FrankCNBCJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Fed raised interest rates by 75 basis points on Wednesday and alluded to more hikes in the coming months, as CNBC’s Steve Liesman recaps. But did the Fed do enough? Mohamed El-Erian, Allianz and Gramercy advisor and president of Queens’ College, Cambridge shares his thoughts on the Fed, the European Central Bank, and the Swiss Central Bank after all three announced interest rate hikes. CNBC’s Jon Fortt considers whether the Fed raised rates high enough, quickly enough, and what it will take to find a ‘soft landing.’ In this episode:Mohamed El-Erian @elerianmJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickMike Santoli @michaelsantoliSteve Liesman, @steveliesmanJon Fortt @jonforttCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The S&P 500 fails to rebound, the markets are poised for the Fed’s big rate hike, inflation and pump pressures are on, and crypto is crumbling. Founder and chairman of Equity Group Investments Sam Zell shares his unfiltered perspective on the Fed, energy prices, and DC policy, all from his vantage point as a real estate billionaire and energy, health care, and manufacturing investor. President Biden is asking oil CEOs to boost gasoline supply and is calling their profits “unacceptable.” Plus, we’re bidding adieu to Internet Explorer. In this episode:Brian Sullivan, @SullyCNBCJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the wake of this week’s bear market, former NYSE President Tom Farley and former Chairman and CEO of TDAmeritrade Joe Moglia discuss the peaks and valleys still to come, both in the crumbling crypto markets and in the broader economy. Tom Farley, who has debuted more than one SPAC of his own, discusses the market’s depleted appetite for any kind of public listing. Joe Moglia speaks to the psyche of retail investors as global conflict rages on and inflation ticks higher, and considers whether recession fears are already realized for some Americans. In this episode:Joe Moglia, @CoachJoeMogliaJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

$200 billion was wiped out of the crypto market over the weekend, and Bitcoin has hit its lowest level since December of 2020. Skybridge Capital founder and crypto bull Anthony Scaramucci unpacks the global market sell-off, the slide in crypto, and why the drama at crypto lender Celsius could make things worse. Inflation and gas price pressures are hitting consumers and corporations; CEO of Stew Leonard’s details the fuel and food supply chain issues impacting his bottom line. Plus, a break from the markets: the latest box office hit, straight from the Jurassic Period. In this episode:Stew Leonard Jr. @StewLeonardJrAnthony Scaramucci, @ScaramucciJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In his first aired interview since taking the helm (again) at Starbucks, interim CEO and founder Howard Schultz speaks candidly to Andrew Ross Sorkin at The New York Times DealBook D.C. Policy Forum in Washington. In an extended conversation, the two cover inflation, America’s gun policy, the mental health crisis, the labor movement, and leadership in capitalism. Plus, May’s consumer price index, or CPI, was up 8.6% from last May, the highest year-on-year increase since December of 1981. Former U.S. Senator Heidi Heitkamp (D-ND) and investor Kevin O’Leary discuss the sky-high fuel prices across the country and steps the government can take to lessen the squeeze on consumer wallets. In this episode:Howard Schultz, @HowardSchultzHeidi Heitkamp, @HeidiHeitkampKevin O’Leary, @kevinolearytvJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Robinhood turned millions of people into retail traders, but now the app’s business model may be in jeopardy as the SEC eyes a plan to crack down on Payment For Order Flow, a practice crucial to its revenues. Jay Clayton, former Chair of the SEC, weighs in on how the SEC’s agenda could transform the stock market. Twitter has agreed to comply with Elon Musk’s demand for access to the platform’s data stream. Former FCC Commissioner Ajit Pai, breaks down what more Musk will ask for, and openings for the Tesla CEO to still walk away from the deal. Plus, in China, the Ant Group IPO may be back on track. In this episode:Ajit Pai, @AjitPai Joe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

As most retailers struggle with a difficult quarter, cosmetics might be a bright spot. Alongside Elf Cosmetics, Ulta Beauty reported upbeat first quarter results despite rising inflation; Ulta CEO David Kimbell discusses the company’s year over year revenue growth and the relative strengths of beauty consumers and social media beauty influencers alike. As streaming stocks like Netflix have struggled, AMC CEO Matt Blank suggests the answer to media’s momentary woes might be linear. Plus, a high profile team is making a play for the Denver Broncos, and the FDA is giving Novavax a big vote of confidence. In this episode:David Kimbell, @UltaBeautyMatt Blank, @AMC_NetworksJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinBecky Quick, @BeckyQuickCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) have introduced bipartisan legislation that would overhaul the regulatory framework for cryptocurrencies and digital assets. The two share details of their plan, how the SEC and the CFTC would fit into it, and how “rules of the road” would benefit both investors and the economy at large. Target is warning investors of a hit to profits next quarter, as the company manages inventory, inflation, and freight cost issues. Longtime retail watcher Jan Kniffen, CEO of J. Rogers Kniffen WWE, explains how the retailer got to this point, and projects how long the pain will last. Plus, the SEC is eyeing new rules for the stock market, Elon Musk is threatening to walk away from his own deal to buy Twitter, and Apple has unveiled some of its newest features for users. In this episode:Sen. Cynthia Lummis, @CynthiaMLummisSen. Kirsten Gillibrand, @SenGillibrandJan Kniffen, @JRogersKYlan Mui, @ylanmuiJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinBecky Quick, @BeckyQuickCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

JetBlue has upped its offer for Spirit Airlines as the battle with Frontier heats up. CEO Robin Hayes explains the new, larger breakup fee offer and shares why he feels shareholders should be happy with this deal. After Coinbase’s hiring freeze and Gemini’s layoffs, the crypto community could be headed for a “crypto winter.” Forkast founder and CEO Angie Lau says, a contraction is certainly underway. Plus, Elon Musk claims Tesla is overstaffed, Starbucks is closing down a recently unionized store in New York, and gas prices are throwing a wrench in summer travel plans. In this episode:Angie Lau, @AngieTVLauPhil LeBeau, @LebeaucarnewsJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinBecky Quick, @BeckyQuickCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Netflix’s volatility continues; despite a bounce in share price this week, the stock is down 66% this year. Gene Munster, Loup founder, discusses his firm’s “higher risk, higher reward” investment in the streaming platform and why it’s important to get its ad model right. Consumers have taken on a lot of credit card debt this year, and CNBC’s Senior Personal Finance Correspondent Sharon Epperson breaks down the booming buy now, pay later debt. Plus, Tesla is cutting staff, and crypto firms like Gemini and Coinbase are preparing their teams for a “crypto winter.” In this episode:Sharon Epperson: @sharon_eppersonGene Munster: @munster_geneBecky Quick, @BeckyQuickBrian Sullivan, @SullyCNBCCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Sheryl Sandberg is stepping down from her post as Meta Platforms Chief Operating Officer after 14 years. Sara Fischer, Axios media reporter, and Rich Greenfield of LightShed Partners, discuss what this means for the Facebook parent’s stock and its future in the metaverse. Elon Musk has ignited another debate: returning to work. Commenting on a Twitter post, Musk said that Tesla executives unwilling to return to office work “should pretend to work somewhere else.” Tsedal Neely, Harvard Business School professor and Tom Gimbel, LaSalle Network founder and CEO, debate the value of hybrid work and education. Plus, Jamie Dimon foresees a hurricane, Chipotle is accepting Bitcoin, and President Biden’s hoping to move students out—of debt. In this episode:Sarah Fischer: @sarafischerRich GreenField: @RichLightShedTom Gimbel:@TomGimbelMichael Santoli: @michaelsantoliBecky Quick, @BeckyQuickBrian Sullivan, @SullyCNBCCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Treasury Secretary Janet Yellen says the White House has several strategies that will reduce inflation, which she conceded is too high. In a sit down interview with Becky Quick, former Fed Chair Yellen recaps her meeting with current Fed Chair Jay Powell and President Biden, and she lists efforts aimed at prescription drug costs, the budget deficit, and oil production that could bring down prices. Economist Mohamed El-Erian, Allianz and Gramercy advisor and president of Queens’ College, Cambridge, discusses the Federal Reserve and his outlook for interest rate hikes later this year.In this episode:Janet Yellen, @SecYellenMohamed El-Erian, @elerianmBecky Quick, @BeckyQuickBrian Sullivan, @SullyCNBCCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Paramount’s “Top Gun: Maverick” broke box office records this Memorial Day Weekend. AMC CEO Adam Aron expects moviegoers to continue to return to theaters throughout the summer season, which is good news for all AMC shareholders. The Biden administration is floating a student loan forgiveness plan that has frustrated politicians on both sides of the aisle; Purdue University President Mitch Daniels airs his own concerns. Plus, the EU has committed to a partial ban on Russian oil, and President Biden has laid out his strategy to fight inflation in The Wall Street Journal. In this episode:Adam Aron, @CEOAdamBecky Quick, @BeckyQuickBrian Sullivan, @SullyCNBCJulia Boorstin, @JBoorstinSharon Epperson, @Sharon_EppersonCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We’re sharing a sneak peak of Born to Rule: When Charles is King, a new original podcast from TODAY which asks (and answers) the burning questions about Prince Charles and what he might be like as King. Listen to the first two episodes and follow now: https://link.chtbl.com/BTR_LW Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Forward-looking companies are simultaneously navigating the uncertainty of today’s markets while beginning to compete in the ‘metaverse.’ Accenture CEO Julie Sweet sits down with CNBC’s Andrew Ross Sorkin at the 2022 World Economic Forum to discuss how her company is using its own metaverse to onboard 150,000 new company employees throughout the year. Andreessen Horowitz also plans to plow billions of dollars into crypto start-ups while digital asset markets are in a rut; the Silicon Valley firm launched the largest crypto fund ever this week, a new $4.5 billion fund to back Web 3.0 projects like crypto and blockchain companies. Arianna Simpson, Andreessen Horowitz general partner, discusses the firm’s newest crypto bet.In this episode:Julie Sweet, @JulieSweetArianna Simpson, @AriannaSimpsonAndrew Ross Sorkin, @andrewrsorkinBecky Quick, @BeckyQuickCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

At the World Economic Forum in Switzerland, former professional boxer Wladimir Klitschko sits down with CNBC’s Sara Eisen to discuss Russia’s war in Ukraine. Klitschko explains why he and his brother, Mayor of Kiev, briefly left Ukraine for Davos, and he shares details of life in Ukraine nearly three months after the Russian invasion.In this episode:Wladimir Klitschko, @KlitschkoSara Eisen, @SaraEisenKatie Kramer, @Kramer_KatieCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.