A Russian Mega-Yacht Auction & Allegations of Mortgage Fraud 8/21/25

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 21 August 2025

⏱️ 43 minutes

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Summary

While the world’s central bankers convene in Jackson Hole, Wyoming, President Trump’s Director of the Federal Housing Finance Agency Bill Pulte has accused Federal Reserve Governor Lisa Cook of "mortgage fraud.” CNBC’s Steve Liesman discusses the allegations and sits down with Kansas City Fed President Jeffrey Schmid to discuss the Fed’s mandate, inflation metrics, and the state of the U.S. economy. Author Walter Isaacson is closely watching the Trump administration’s interest in corporate America; the renowned biographer warns that “state capitalism” could bring the country down a path toward “crony capitalism.” Plus, CNBC’s Robert Frank reports on the Justice Department’s auction of a Russian oligarch’s $300 million mega-yacht. Walter Isaacson - 21:44 Jeffrey Schmid - 33:12 In this episode: Steve Liesman, @steveliesman Robert Frank, @robtfrank__ Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music, please.
0:05.0	Hi, I'm CNBC producer Katie Kramer.
0:07.0	Today on Squawk Pod.
0:09.0	Pressure on the U.S. Federal Reserve expands to include Fed Governor Lisa Cook and accusations of mortgage fraud.
0:17.0	They're looking for, obviously a reason.
0:20.0	If a cop follows you for 500 miles, you're going to get a ticket.
0:23.6	You know who said that?
0:24.6	Warren Buffett.
0:25.6	Our economics reporter Steve Leesman weighs in.
0:28.6	Lisa Cook is a very accomplished economist.
0:32.6	Lisa Cook should not be known for this thing.
0:35.6	Speaking of the economics, Steve Leesman is at the Jackson Hole Symposium with the world's
0:41.3	central bankers, including Kansas City Fed President Jeffrey Schmidt, is an interest rate cut on the way.
0:47.3	The inflation number is probably closer to three than it is, too, and I think we've got some work to do.
0:53.3	And how close is too close? President Trump's
0:57.1	march toward more involvement in corporate America. Author Walter Isaacson says it is a risky road.
1:02.9	That type of state capitalism, it often evolves into crony capitalism where you have favored
1:10.5	companies and industries, those that pay tribute.
1:14.3	It's Thursday, August 21st, Squawk Pod begins right now.
1:20.1	Stand Becky by in three, two, one.
1:23.0	Cure, please.
1:25.5	Good morning, everybody.
	...

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