Squawk Pod

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, @EricCantorBrian Kelly, @thepointsguyYlan Mui, @ylanmuiYasmin Khorram, @YasminKhorramJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkin Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Pfizer CEO Albert Bourla discusses his company’s donation of 500 million doses of the Covid-19 vaccine to the U.S. government for distribution among lower income countries. CNBC’s Meg Tirrell and Pfizer’s Bourla discuss equitable vaccine access and the global distribution infrastructure. The group chat app Discord is now valued at $15 billion after a new funding round. Discord CEO Jason Citron shares how he’s built a communication app in a crowded marketplace, the pros and cons of working with Apple’s App Store, and leveraging the gamer community. Plus, Congress works to avert a government shutdown, and Jamie Dimon’s making comments on the Fed.In this episode:Albert Bourla, @AlbertBourlaJason Citron, @jasoncitronMeg Tirrell, @megtirrellJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkin Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Uber may be bumping up its timeline for profitability. After years of losses and struggles with surge pricing and labor shortages throughout the pandemic, CEO Dara Khosrowshahi says the company is ready to turn its first adjusted profit sooner than expected. Martha Stewart shares her plans to expand Martha.com’s shopping and learning experiences for consumers. A real estate company’s debt crisis in China is rippling through markets around the world; CNBC’s Eunice Yoon reports on Evergrande’s path forward and the role the Chinese Communist Party plays in the global economy. Plus, U.S. Democratic congressional leaders are attempting to prevent a government shutdown and suspend the U.S. debt limit through the end of 2022. In this episode:Dara Khosrowshahi, @dkhosMartha Stewart, @MarthaStewartEunice Yoon, @onlyyoontvJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkin Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Pfizer and BioNTech’s Covid vaccine is safe for kids, and appears to generate a robust immune response, according to results from a clinical trial of children 5 to 11. The companies tested a two-dose regimen of 10 micrograms — about a third the dosage used for teens and adults — administered three weeks apart. CNBC’s Senior Health and Science Reporter Meg Tirrell says the company plans to submit the data to the FDA and other health regulators as soon as possible. Democratic mayoral nominee Eric Adams discusses his plans for New York City businesses, it’s police force, and Wall Street. Plus, CNBC’s Robert Frank reports on Washington’s tax debate and the “death tax.”In this episode:Eric Adams, @ericadamsfornycMeg Tirrell, @megtirrellRobert Frank, @robtfrankJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkin Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Federal Reserve Chairman Jerome Powell has ordered an internal ethics review after several senior central bank officials disclosed large investments and stock trades in 2020. CNBC’s Steve Liesman reports on the details of the disclosure documents, the existing rules for Fed official holdings. LinkedIn co-founder, venture capitalist, and host of the ‘Masters of Scale’ podcast Reid Hoffman discusses his new book, years of his own interviews with entrepreneurs, and the magic of an entrepreneurial spirit. A key Food and Drug Administration vaccine advisory committee meets to debate and vote on booster shots for the general public, and a former Boeing 737 Max pilot is likely to soon face criminal charges for his role in misleading aviation officials. Plus, American steel is making a comeback. In this episode:Reid Hoffman, @reidhoffmanSteve Liesman, @steveliesmanJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkin Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

New Jersey Gov. Phil Murphy has issued a warning to residents who haven’t received a Covid-19 vaccine, advising them to register for their first doses as hospitalizations and ventilator usage climb across the state. Murphy discusses Covid safety in schools, tax changes for residents, and the fight for infrastructure on Capitol Hill. Apple’s new iPhone 13 promises improvements in camera performance, battery life and general speed; CNBC’s Jon Fortt breaks down industry headwinds ahead of the holiday shopping season. Plus, a fiery headache for the GM Chevy Bolt and a SpaceX liftoff. In this episode:Phil Murphy, @GovMurphyJon Fortt, @jonforttBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawk Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In an extended interview, founder of Bridgewater Associates Ray Dalio outlines his strategy for diversifying his portfolio, from the stock market to gold and cryptocurrencies. Dalio discusses the global and domestic market risks, warns investors away from cash, and considers a conflicted future for capitalism. At the Skybridge Alternatives Conference in New York, Andrew Ross Sorkin sits down with Ray Dalio and, later, former FDA Commissioner Dr. Scott Gottlieb. Dr. Gottlieb considers a future of low-Covid-risk conferences like SALT, and a timeline for child vaccines. Plus, Microsoft is buying back $60 billion in MSFT stock Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Metropolitan Museum of Art’s annual gala returned to New York City on Sunday, and hundreds of celebrities walked the red carpet to celebrate the Costume Institute’s “In America: A Lexicon of Fashion” Exhibit. Making a splash among entertainment’s wealthiest elite, New York Representative Alexandria Ocasio-Cortez donned an Aurora James gown with a loud message: “Tax the Rich.” Robinhood’s payment-for-order-flow business model has long been the focus of the platform’s biggest critics, but Robinhood chief legal officer Dan Gallagher defends the back-end payment system as benefit to retail investors. Gallagher, a former SEC commissioner, maps the market’s road to the Reddit Rebellion and the rise of retail investors. Plus, update your iPhones! In light of security concerns, Apple is recommending that users update all of their iOS devices. In this episode: Dan Gallagher, @DanGallagherDCBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkin Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

House Democrats outlined a bevy of tax hikes on corporations and wealthy people to fund an investment in the social safety net and climate policy that could reach $3.5 trillion. CNBC’s Robert Frank reports on the possible impact for high-earners and considers possible timeline for implementation, and Carlyle Group co-founder David Rubenstein says there is “no doubt we will have a tax increase” by the end of the year. Rubenstein weighs in on China’s regulatory crackdown and global risks to the market. The TSA will double the fine for passengers who refuse to comply with the federal mask mandate for air travel. Sara Nelson, international president for the Association of Flight Attendants, discusses her colleagues’ support for passenger vaccination mandates. A federal judge has ruled Apple can’t force developers to use in-app purchases, the latest development in Apple’s battle with Epic Games. Plus, U.S. Open Champion Daniil Medvedev defeated #1-ranked Novak Djokovic, and vaccines may be on the horizon for kids ages 5-11.News Stories:House Democrats propose new tax hikes to pay for their $3.5 trillion bill: Here are the detailsTSA to double minimum fines for travelers who refuse to wear masks to $500Apple can no longer force developers to use in-app purchasing, judge rules in Epic Games caseIn this episode:David Rubenstein, @DM_RubensteinSara Nelson, @FlyingWithSaraRobert Frank, @robtfrankBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkin Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In remembrance of September 11, 2001, New York Times foreign affairs columnist Tom Friedman, Cantor Fitzgerald and BGC Partners CEO and chairman Howard Lutnick, and CNBC’s Contessa Brewer reflect on that tragic day, how the world was shaped by it, and what’s next, at home and abroad. Lutnick remembers over two thirds of the Cantor Fitzgerald employees lost in the 9/11 attacks, and speaks to the Cantor Fitzgerald-BGC Partners annual Charity Day, in support of their families. CNBC’s Contessa Brewer reports on the physical, emotional, and financial impact, far beyond Ground Zero and far beyond 2001. Tom Friedman, author of ‘From Beruit to Jerusalem’ reflects on how 9/11 changed the players and the moves on the international, geopolitical stage. Plus, in light of today’s Covid-19 crisis, President Joe Biden has outlined a broad plan to increase Covid vaccination rates in the U.S. He announced a mandate that federal employees get a Covid vaccine, with no option for regular testing, and for health-care facilities that get Medicare and Medicaid funding to have staff fully vaccinated.News Stories:Biden to mandate Covid vaccine for federal workers, removing option to get tested insteadIn this episode:Tom Friedman, @tomfriedmanContessa Brewer, @contessabrewerJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkin Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.