Squawk Pod

Kevin Hassett, former National Economic Council Director, dives into the impact of President Trump's proposed tariffs on Mexico and the EU, stirring up discussions on trade tensions and their economic repercussions. He also critiques the Federal Reserve’s independence amid growing frustrations from the White House. The conversation touches on the playfulness of corporate earnings, particularly Kraft Heinz, alongside a humorous exploration of quirky national days that lighten the serious topics of tariffs and inflation.

Discover key market insights just before the opening bell! Superman is dominating the box office, while online spending sees a massive boost from Amazon Prime Days. Nvidia's CEO is making waves in China, and exports from there are on the rise. Plus, JPMorgan's Jamie Dimon raises alarms about private credit dangers, even as he pushes for more investment in that sector. It's a blend of finance and pop culture that's both informative and entertaining!

Russell Vought, Director of the Office of Management and Budget, shares insights on government spending and the Federal Reserve's monetary policies. Marty Makary, the new FDA Commissioner, discusses the challenges of restoring public trust in health agencies amid vaccine hesitancy and the ongoing impacts of COVID-19. The guests tackle the rising pressure on economic policies, including President Trump's tariffs on Canada and the audit of the Fed's strategic decisions. Their candid conversation highlights the intersection of healthcare and economics in shaping public perception and policy.

Discover the latest buzz in financial news as new tariffs on Canada are set to reshape trade dynamics. Follow Marco Rubio's international journey in Asia and what it means for diplomacy. Google's partnership to provide cloud services for the government raises eyebrows in tech circles. Exciting product launches are on the horizon for Apple, hinting at fresh innovation. Plus, Flutter's moves to acquire FanDuel highlight the evolving landscape of gaming and entertainment.

Senator Rand Paul, a vocal advocate for fiscal conservatism from Kentucky, shares his strong opposition to a hefty spending bill he believes will exacerbate the national debt. He proposes a spending 'leash' to promote accountability. Joining him is Greg Fleming, CEO of Rockefeller Capital, who analyzes the robust U.S. stock market performance and the implications of Trump's tariffs on Brazil. They also touch on corporate acquisitions and tech trends, underscoring the ongoing resilience of the American economy amid these complexities.

In another leadership change, Apple’s COO and presumed Tim Cook successor Jeff Williams has announced his retirement. CNBC’s Steve Kovach discusses Apple’s recent turnover and its strategy to rise to investor and innovator expectations in the AI race. Ripple has selected BNY to be custodian of its stablecoin; CEO Brad Garlinghouse explains his vision for crypto and institutional finance ahead of his testimony in crypto hearings on Capitol Hill. Plus, Philadelphia has ended the worker strike that left garbage pickup stalled, two Squawk Box guests (both named Kevin) may be vying for top spot at the Federal Reserve, and President Trump is threatening more tariffs on pharmaceutical companies.   Brad Garlinghouse - 13:41Steve Kovach - 21:29 In this episode:Joe 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.

The 5 things you need to know before the stock market opens today: SpaceX is preparing to sell insider shares, the China unit of Starbucks has attracted offers for a potential stake sale, valuing that business at up to $10 billion, Boeing completed delivery of the most planes since December 2023, the TSA has officially changed shoe policy at airports, and Philadelphia workers have reached a deal with the city, nearing an end to a labor strike that halted garbage collection. Squawk Box is hosted by Joe Kernen, Becky Quick and Andrew Ross Sorkin.  Follow Squawk Pod for the best moments, interviews and analysis from our TV show in an audio-first format.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fred Kempe, CEO and President of the Atlantic Council, examines the implications of Trump's renewed trade deals on global markets. Lauren Goode, a Senior Writer at Wired, discusses the fierce competition for AI talent, spotlighting Meta's recruitment of Ruoming Pang from Apple. The conversation also touches on evolving TSA policies and the impact of tariffs on Prime Day discounts. With tech giants vying for top engineers, the dynamics of the AI talent market illustrate the ongoing intersection of politics, economics, and innovation.

Scott Bessent, former Treasury Secretary in the Trump administration, warns of impending tariffs for nations lacking trade deals. He hints at significant trade announcements on the horizon, raising urgent economic implications. Meanwhile, New York City Mayor Eric Adams shares insights on his independent mayoral bid, tackling topics like Andrew Cuomo's political legacy and the campaign dynamics with candidate Zohran Mamdani. The conversation also touches on Elon Musk's plans for a new political organization, stirring mixed emotions among Tesla investors.

Experts discuss the dire implications of America's soaring budget deficit. They warn of potential debt defaults, rising inflation, and international instability. The risks to markets and national security are highlighted, with an emphasis on the urgent need for political cooperation. The concept of 'bond vigilantes' and historical parallels to fiscal crises are explored. A new social contract is proposed to shield future generations from economic strain. The alarming intersection of debt and democracy poses questions about the sustainability of America’s fiscal practices.