Fed Chair Jerome Powell signaled a rate hike and a stimulus taper, prompting a positive day on Wall Street. In Washington, Congress may be at a standstill to raise or suspend the debt limit, thus averting a government shutdown, and a debt default. Eric Cantor, former Republican House Majority Leader and CNBC’s Ylan Mui discuss the debt ceiling and the possible economic fallout. The Food and Drug Administration authorized Pfizer and BioNTech’s Covid-19 booster shots for people 65 and older and other vulnerable Americans six months after receiving the first two doses. Theranos founder Elizabeth Holmes continues her trial, and CNBC’s Yasmin Khorram has obtained 600 pages of Holmes’s private texts with her ex-boyfriend Sunny Balwani. Khorram reveals details of their relationship, now in the courtroom spotlight. Plus, The Points Guy Brian Kelly offers his tips for making the most of a credit card, capitalizing on the best ways to leverage Amex and Chase points for travel.

In this episode:
Eric Cantor, @EricCantor
Brian Kelly, @thepointsguy
Ylan Mui, @ylanmui
Yasmin Khorram, @YasminKhorram
Joe Kernen, @JoeSquawk

Becky Quick, @BeckyQuick

Andrew Ross Sorkin, @andrewrsorkin

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Debt Default Drama; Theranos Texts on Trial; Smart Travels with The Points Guy