A “Hawkish Skip” & Appetite for IPOs 6/15/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 15 June 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In its latest decision on interest rates, the Federal Reserve will skip a rate hike this month. CNBC’s Steve Liesman explains what the “hawkish skip” means for Wall Street and Main Street. Mediterranean fast casual chain Cava has listed on the New York Stock Exchange at $42 per share. One of the company’s early investors Steve Case discusses his venture bets on innovation outside Silicon Valley. As co-founder of AOL and CEO of Revolution, Case has backed Clear, Sweetgreen, DraftKings, and many other companies based in other cities across the US; he discusses today’s business challenges of San Francisco and the opportunities elsewhere. Plus, as dads begin Father’s Day celebrations, some financial firms are leading the way on paternity leave. In this episode: Steve Case, @SteveCase Steve Liesman, @steveliesman Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squack Pod and I'm
0:06.6	CNBC producer Cameron Costa.
0:08.8	On today's episode,
0:10.6	The skip, I shouldn't call it, the decision.
0:13.0	Jerome Powell announces the Federal Reserve's big interest rate decision.
0:18.0	They did not raise.
0:19.0	Not this month at least.
0:21.0	And fast casual chain Kava making its public debut,
0:24.8	one of the chain's investors, Steve Case,
0:28.2	and why he's betting on companies outside Silicon Valley.
0:32.0	An investor is not paying attention to this,
0:34.0	this broader opportunity all around the country
0:35.8	are going to miss out on some of the great investments
0:37.4	over the next decade.
0:38.8	Those stories, plus a small win for Sam Bankman Freed and a big win for fathers everywhere.
0:46.0	What's on your wish list?
0:47.0	What would you like?
0:48.0	I don't. What do you give someone who has?
0:50.0	I have absolutely everything.
0:52.0	It's June 15th, 2023 and Squaffod begins right now.
0:57.0	Stand Becky by in three, two, one, queue please.
	...

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