A Gas Tax Holiday & Hodling onto Faith 6/21/22

Squawk Pod

CNBC

News, Business News, Business, Investing

4.2 • 543 Ratings

🗓️ 21 June 2022

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the wake of a turbulent market week, investor fears of a recession are growing in step with losses on Wall Street. Crypto hodlers are in pain, but investor and former NYSE President Tom Farley hopes the worst is behind them. Chair of President Biden’s Council of Economic Advisers Cecilia Rouse discusses inflation, the state of the economy, and the administration’s options to mitigate ever-rising fuel prices across the U.S., including a gas tax holiday. Plus, Mondelez is taking a Clif jump, and a pilot shortage is causing drama for travelers. In this episode: Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C, NBC producer Katie Kramer, today on Squawk Pod.
0:08.0	Is a recession inevitable?
0:11.0	The White House says it's not, but the chances could be growing
0:14.4	thanks to inflation and the market's worst stumble in years.
0:18.6	I feel like I remember all 17 of those 15% declines. We've had a lot of them in the last two decades.
0:25.4	I remember all 14 of the recessions that only four happened.
0:30.8	Cecilia Rouse from the Council of Economic Advisors says the administration is doing everything it can, maybe starting at the gas station.
0:38.0	We know that a lot of the inflation has been caused over the last several months by Putin's invasion of Ukraine
0:44.5	and so President Biden is looking at all tools available to try to help it make it a little
0:50.0	bit easier for people at the pump. Plus the pain continues for crypto holders,
0:55.0	but we're still trying to keep it light.
0:57.0	Under the ticker bite me, no I'm sorry, bite, bite,
1:00.0	bite, bite, bite, by tea.
1:02.0	BITI, BITI.
1:03.2	The markets, everything else.
1:04.8	What do you, what do you want?
1:05.6	Got to have some sense of humor these days.
1:08.0	It's Tuesday, June 21st, 2022.
1:11.1	The first day of summer, Squack Pod begins right now.
1:15.0	Stand back you by in three, two, one, fuel break.
1:19.0	Good morning, everybody.
	...

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