Squawk Pod
Minneapolis Fed Pres. Kashkari & Qualcomm’s Pitch to Intel 09/23/24
Sep 23, 2024
Neel Kashkari, president of the Minneapolis Federal Reserve, discusses the recent 50 basis point rate cut and its implications for inflation and the labor market. He also highlights an unprecedented dissent from an FOMC voter. Meanwhile, Andy Dunn, co-founder of Bonobos, presents his new app, Pie, which aims to simplify making friends in real life. The conversation also touches on Qualcomm’s ambitious plan to acquire Intel, potential impacts on the tech landscape, and the ongoing challenges of government shutdowns and regulatory scrutiny.
32:45
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Quick takeaways
- Minneapolis Fed President Neel Kashkari highlights the Fed's shift in focus from inflation to labor market risks amid recent rate cuts.
- Andy Dunn's new app Pie aims to facilitate real-life friendships to combat social isolation and enhance emotional connections in modern life.
Deep dives
Federal Reserve Rate Cut Insights
The Federal Reserve's recent decision to cut interest rates by 50 basis points reflects a cautious shift in focus toward potential risks in the labor market rather than inflation. Minneapolis Fed President Neil Kashkari highlighted his concern about rising unemployment, emphasizing that while inflation data has been improving, the Fed aims to maintain a strong job market. This marked the first dissent on the Federal Open Market Committee in nearly two decades, with some members advocating for a more conservative 25-basis point cut. Kashkari's thesis suggests that the Fed's current positioning remains tight, indicating that further adjustments may be on the horizon as economic conditions evolve.
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