Squawk on the Street Bank Earnings Day Two, Trump vs. Powell, "Good News, Bad News" Inflation Picture 1/14/26
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Jan 14, 2026 Eamon Javers, a Washington-based CNBC reporter, dives into the heated clash between President Trump and Jerome Powell, exploring the implications of a potential DOJ probe into the Fed chair. The discussion shifts to staggering bank earnings results, with significant stock responses from Bank of America and Wells Fargo. Javers also illuminates upcoming Supreme Court decisions on tariffs and their ramifications, while Netflix’s move towards an all-cash deal for Warner Bros adds fuel to the corporate strategy fire.
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Wells Shows Growth After Asset Cap Lift
- Wells Fargo's quarter shows real consumer and loan growth after the asset cap was lifted.
- Management highlights AI and cost cuts as drivers of future profitability.
Trump Escalates Pressure On Powell
- President Trump publicly attacked Fed Chair Jerome Powell and questioned his competence.
- The DOJ probe and political pressure raise risks to Fed independence and succession dynamics.
Netflix May Switch To All-Cash Offer
- Netflix is likely to convert the Warner Bros. Discovery deal's stock component to all cash.
- Doing so would speed up the shareholder vote and could move the decision months earlier.