A Dovish Fed & Speaker Johnson on the Shutdown Deadline 03/21/24

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 21 March 2024

⏱️ 36 minutes

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Summary

The Federal Reserve held interest rates steady this week, signaling a plan to cut rates multiple times this year. Economist and Allianz and Gramercy advisor Mohamed El-Erian explains the Fed’s dovish stance and its implications for the markets. As the government shutdown deadline looms, lawmakers have released a $1.2T spending bill. Speaker Mike Johnson (R-Louisiana) discusses the bill, funding for Israel, the US deficit, and the difficulties of a divided Congress. The Department of Justice has sued Apple, alleging the company’s anti-competitive practices extend beyond its hardware products. CNBC’s Steve Kovach explains Apple’s business strategy and regulatory hurdles. Plus, Elon Musk’s Neuralink has landed a big win. Mohamed El-Erian - 04:23 Rep. Mike Johnson - 16:19 Steve Kovach - 31:25 In this episode: Mike Johnson, @SpeakerJohnson Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Katie Kramer: @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:04.0	Hi, I'm C NBC producer Katie Kramer.
0:07.0	Today on Squawk Pot.
0:10.0	A government shutdown looms, again, House Speaker Mike Johnson says the latest spending bill isn't perfect, but neither is politics.
0:18.0	Democracy's messy. It's particularly messy right now in a moment like this but we have to get the job done
0:23.5	and there are some very substantial wins in here. It's a divided government so
0:27.9	something's got to give. I think we have to get this done by the weekend
0:31.1	because I think the stakes are too high.
0:34.8	What it sounds like when doves, stand pat.
0:37.2	The Federal Reserve holds rates steady, hints at future cuts, and says the inflation
0:41.6	target rate of 2% might have some wiggle room.
0:44.5	We're back to transitory.
0:46.5	Mohammed Al Arian joins us on Chairman Jay Powell's comments and the impact of our Central
0:51.3	Bank's decision around the world.
0:53.2	Remember the old Pimpco concept of the cleanest dirty shirt.
0:56.2	If we misbehave and others misbehave more, we don't get punished because we've got the
1:00.4	reserve currency.
1:02.2	Plus, U.S. regulators setting antitrust sites on Apple,
1:06.0	C. NBC Steve Kovac explains.
1:08.0	This is a beloved company that is going to have a really stressful time.
1:12.0	It's Thursday March 21st, the cleanest dirty shirt, and so much more.
1:18.0	Squawk Pod begins right now.
	...

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