A Poll that Popped Tesla & Data that Pushes the Fed 12/19/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 19 December 2022

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

China has ended its zero-Covid policy, but the government’s data on virus spread there is widely regarded as unreliable. Member of the Council on Foreign Relations Michelle Caruso-Cabrera discusses the geopolitical sea-change underway, as economists await an economic slowdown in China. Another pivotal shift in the works: the Federal Reserve’s commitment to raising interest rates. Mohamed El-Erian, Allianz and Gramercy advisor and president of Queens’ College, Cambridge, issues a warning to the Fed and investors worldwide. Plus, Elon Musk polled Twitter, asking whether he should resign as CEO. When the poll closed, users had voted for his resignation from Twitter; while Elon tweeted that he would abide by the results, no official announcements have been made. Loup founder and tech analyst Gene Munster explains why Tesla shareholders were optimistic on the news. In this episode: Michelle Caruso-Cabrera @MCaruso_Cabrera Mohamed El-Erian @elerianm Gene Munster: @munster_gene Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:02.6	Hi, I'm C. NBC producer Katie Kramer,
0:06.7	today on Squawk Pod.
0:08.1	Is Elon Musk stepping down from Twitter, the leadership see saw he set in motion via tweet poll analyst
0:16.5	and tech watcher Gene Munster.
0:18.3	Over the last seven weeks, as he's been more engaged with Twitter, he's damaged Tesla's brand and I think there is a benefit to
0:25.4	Tesla by him stepping back from Twitter. China, done with zero COVID. The global change is afoot
0:32.4	with Michelle Caruso Cabrera member of the Council on with
0:33.3	zero COVID. The global change is afoot with Michelle Caruso Cabrera member of the Council on
0:35.0	Foreign Relations. Two things were true for 30 years. China was going up and
0:39.2	interest rates were going down and those two things are reversing before our eyes and the repercussions
0:46.4	are just going to be astounding to watch.
0:50.2	And the tight rope the U.S US economy is walking,
0:53.0	better than expected economic data,
0:54.9	but a hawkish Federal reserve committed to raising rates.
0:58.0	Mohamed Alarian joins us.
0:59.7	The Fed is in the midst of a three-part policy mistake that's going to go down in the history books.
1:05.0	It's Monday, December 19, 2022, Squackpot begins right now.
1:10.0	Stand Becky by in three, two, one, queue please.
1:16.1	Good morning.
1:17.1	Welcome to Squackbox here on C.
1:18.8	We're live from the NASDAQ Market site in Times Square.
	...

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