Squawk Pod

The markets are reacting to comments from Fed Chair Jerome Powell, who announced a plan to taper its asset purchases faster. He--and the rest of the economist community--is ready to retire the word “transitory,” but his comments have not retired questions and concerns from investors. CNBC’s Steve Liesman explains Powell’s comments. CEO of Lazard’s Financial Advisory business Peter Orszag discusses Fed leadership and Lazard’s efforts to quantify climate issues in the equities market. The FDA has narrowly endorsed Merck’s oral Covid treatment pill; former FDA Commissioner Dr. Scott Gottlieb discusses therapeutics, vaccine efficacy against the omicron variant, and Covid-19’s evolution. Plus, how much do you love Tesla? Enough for a tattoo? In this episode:Dr. Scott Gottlieb, @ScottGottliebMDPeter Orszag, @porszagSteve Liesman, @SteveLiesmanJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie 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.

Bridgewater Associates’ Ray Dalio holds firm in his belief that cash is not king, despite the market volatility triggered by the Covid omicron variant. Dalio discusses competing with China, the global economy, and his new book, “The Changing World Order.” Comments about omicron from Moderna CEO Stephane Bancel have spooked investors, and Jack Dorsey’s decision to step down from his role as Twitter CEO took the markets by surprise. Plus, for Giving Tuesday: a conversation about the potential for NFTs to innnovate philanthropy with venture capitalist, crypto optimist, blockchain backer and kite surfer Bill Tai. Founder of Metagood and one of the first to make an NFT for charity, Tai discusses paths forward for the metaverse and tech’s opportunity to impact positive change. In this episode:Ray Dalio, @RayDalioBill Tai, @KiteVCJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY 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 says he’s “very, very confident” that the company’s Covid-19 treatment pill will be effective against the omicron variant of Covid-19, and that Pfizer will be able to manufacture a vaccine for this variant within 100 days, to be used if necessary. Pfizer submitted its application earlier this month to the Food and Drug Administration to authorize the pill, Paxlovid, for emergency use. Bourla spoke with CNBC’s Meg Tirrell and the ‘Squawk Box’ team to discuss managing the new variant. Plus, oil prices jumped today as traders bet that Friday’s sharp sell-off was overdone. CNBC’s Brian Sullivan reports on how the omicron Covid variant concerns are impacting energy markets.In this episode:Albert Bourla, @AlbertBourlaBrian Sullivan, @SullyCNBCJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie 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 World Health Organization will meet today to discuss a new heavily-mutated variant of Covid-19. The variant has been detected in small numbers in South Africa, with reports of cases in Israel and Hong Kong. CNBC’s Meg Tirrell reports on how Covid-19 drugmakers like Moderna and Pfizer are responding to the variant. Dr. Kavita Patel, former White House health policy director and fellow at the Brookings Institution, also reacts to the new variant but says we shouldn’t “get ahead of ourselves” just yet. NBC’s Raf Sanchez reports from Tel Aviv that Israel has barred travel to several southern African nations over the new variant, as well as Singapore and several other nations. The U.K. immediately moved to ban flights from South Africa, Lesotho, Botswana, Namibia, Eswatini and Zimbabwe. Plus, Priceline CEO Brett Keller discusses holiday travel demand, and how the coronavirus variant could impact bookings. In this episode:Kavita Patel, @kavitapmdMeg Tirrell, @megtirrellBrett Keller, @pricelineRaf Sanchez, @rafsanchezBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Billionaire investor Ken Langone and Larry Bossidy, former Honeywell CEO, speak about the RADical Hope Foundation, their effort to reach young people struggling with mental health. The two united after Bossidy’s grandson Chris Martin, a Gonzaga University student, died by suicide aged 20. Bossidy first discussed the tragedy in a moving 2018 Squawk Box appearance, that caught guest William Shatner by surprise. RADical Hope’s new program -- RADical Health, being pioneered at NYU -- encourages students, parents and college communities to talk openly about mental health and teaches freshmen the skills to “stay well and resilient.”  Plus, only on Squawk Pod, Joe Kernen reflects on what talking about mental health means for a proud college dad. To find out more, visit https://radicalhopefoundation.org/If you or someone you know needs immediate help, please call the National Suicide Prevention Lifeline at 800.273.TALK (8255) or contact the Crisis Text Line by texting HOME to 741741.In this episode:Ken LangoneLarry Bossidy, @RADICALHOPE_FdnJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie 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.

ARK Invest founder and CEO Cathie Wood explains why she thinks ARK’s funds should be more valuable over the next five years despite a recent dip in tech shares. Wood’s flagship fund, ARK Innovation ETF, is down nearly 15% in 2021 while the S&P 500 is up 25%. Retailers Nordstrom and Gap both saw their quarterly results fall short and their shares prices hit by supply-chain disruptions even as more customers returned to their physical stores. Several hundred Google employees have signed and circulated a manifesto opposing the company’s Covid vaccine mandate, posing the latest challenge for leadership as it approaches key deadlines for returning workers to offices in person. Elon Musk’s SpaceX is set to launch a first-of-its-kind planetary defense mission for NASA in the early hours of Wednesday morning, sending the spacecraft on its way to intentionally crash into an asteroid. Plus, need help preparing the perfect turkey this Thanksgiving? Butterball’s Bill Nolan breaks down the latest tips and tricks for turkey success.In this episode:Cathie Wood, @CathieDWoodBill Nolan, @butterballBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie 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.

Palantir CEO Alex Karp reflects on the software firm’s first year as a publicly traded company and breaks down its growth trajectory. Karp discusses the company’s controversial position in American politics, his decision to relocate from Silicon Valley, the recently passed infrastructure bill, and U.S. climate policies. Karp weighs in on Palantir’s anti-terrorism efforts and the patriotism of other American tech CEOs; he thinks companies that work with adversarial governments, rather than the U.S., should disclose their reasoning. Plus, Elon Musk is feuding with Jamie Dimon, President Biden has renominated Jay Powell for a second term as Fed Chair, and CNBC’s Scott Cohn is at the Theranos trial, where Elizabeth Holmes takes the stand. In this episode:Alex Karp, @PalantirTechScott Cohn, @ScottCohnTVJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie 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.

President Joe Biden is nominating Jerome Powell for a second term as chairman of the Federal Reserve, which means Americans can expect the U.S. central bank to maintain its patient stance on inflation and interest rates. Biden praised Powell and the Fed for “decisive” action that cushioned the impact of the Covid pandemic. Dr. Scott Gottlieb, former FDA commissioner and CNBC contributor, discusses why it’s important for Americans to get a booster shot against Covid-19 ahead of the holidays. Sara Nelson, international president of the Association of Flight Attendants, also discusses whether airlines are ready for the expected surge in holiday travel. Protests against fresh Covid-19 restrictions have rocked Europe over the weekend, with demonstrations breaking out in places such as Brussels, Vienna, Rome and Amsterdam. Plus, the future of Activision and a monster beverage deal. In this episode:Dr. Scott Gottlieb, @ScottGottliebMDSara Nelson, @FlyingWithSaraJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie 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 House of Representatives has passed the largest expansion of the social safety net in decades, a $1.75 trillion bill that funds universal pre-K, Medicare expansion, renewable energy credits, affordable housing, a year of expanded Child Tax Credits and major Obamacare subsidies. Now President Biden’s Build Back Better Act heads to the Senate. CNBC’s Ylan Mui reports on the Congressional Budget Office estimate that the legislation would add $367 billion to budget deficits over a decade. Veteran CEO Richard Parsons, senior advisor at Providence Equity Partners and former CEO of Time Warner, tells Joe Kernen, Becky Quick and Andrew Ross Sorkin that the President hasn’t been showing enough “leadership moxie.” Scott Cohn reports on the end of the 11-week trial against Theranos founder Elizabeth Holmes. Plus, Sweetgreen has a sweet debut and the kids - they love TikTok.In this episode:Ylan Mui, @ylanmuiScott Cohn, @ScottCohnTVAndrew Ross Sorkin, @andrewrsorkinJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickKatie 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.

Salad chain Sweetgreen made its trading debut today on the New York Stock Exchange. The D.C.-based company, which was founded in 2007, is trying to tap into what it describes as a grossly underserved market for fast-food that is also fresh, seasonal, and healthy. Sweetgreen co-founders Jonathan Neman, Nicolas Jammet and Nathaniel Ru explain their vision for a “McDonald’s of this generation.” Deere & Co. workers approved a new contract late yesterday, delivering 10% raises immediately and ending a month-long strike for more than 10,000 employees. Shares of Nvidia are soaring after reporting a 60% year-over-year increase in adjusted quarterly earnings per share and a 50% year-over-year rise in revenue. Both measures exceeded expectations. More than 2 million children have already received their first dose of Pfizer’s Covid vaccine, just two weeks after the CDC authorized distribution of the shots for kids ages 5 to 11. Plus, Oprah, Reese Witherspoon...and Joe Kernen love their Spanx!In this episode:Jonathan Neman, @sweetgreenNicolas Jammet, @nicolasjammetNathaniel Ru, @nathanielruAndrew Ross Sorkin, @andrewrsorkinJoe Kernen, @JoeSquawkBecky Quick, @BeckyQuickKatie 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.