Jim Cramer and Scott Wapner led off the show by previewing the big event of the day for investors: After wrapping up a two-day meeting, The Fed set to issue its policy statement -- the watch is on to see what Chair Powell and fellow policymakers will say about their approach to inflation. General Motors announcing the automaker is boosting its global spending on electric and autonomous vehicles by 30-percent, totaling $35-billion through 2025. GM Chairman and CEO Mary Barra joined the program exclusively to talk about the company's E-V strategy and updated guidance. The anchors reacted to comments from heavy hitters at the CNBC Evolve Global Summit: The head of the IMF shared her take on supply chains and the global economy -- and the CEO of Novartis spoke on health care and helping to produce COVID vaccines in a post-pandemic world. Also in focus: Oracle shares slumping despite better-than-expected quarterly results, ARK Invest's Cathie Wood buys $42-million in DraftKings after the stock took a hit Tuesday on a short-seller report, and big tech critic Lina Khan named Federal Trade Commission Chair -- the anchors explored how far she might go to push for a breakup of companies such as Facebook and Amazon, and what that could mean for FAANG stocks. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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Squawk on the Street