A Swiss Lifeline, the Rate Hike Risk, & Threatening TikTok 03/16/23

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 16 March 2023

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Credit Suisse gets a lifeline! CNBC’s Geoff Cutmore reports on the Swiss Central Bank’s backstop for banking contagion, and CNBC’s Steve Liesman explores how this week of financial instability affects the chances of another immediate rate hike from the Federal Reserve. Today’s podcast further investigates the shockwaves from the Silicon Valley and Signature bank collapses, first with the congressman who represents Silicon Valley itself: Rep. Ro Khanna (D-CA). Rep. Khanna argues for more banking regulation and considers the culture that could have pushed these banks to the brink. Former 4 star General Stanley McChrystal also unpacks the fallout; in his current role as a CEO consultant, Gen. McChrystal says, the best crisis response is drafted before a crisis even hits. Plus, the US government is threatening action against TikTok, and Virgin Orbit is coming back to earth, and its staff–and stock–are taking a hit. In this episode: Ro Khanna, @RepRoKhanna Andrew Ross Sorkin, @andrewrsorkin Kelly Evans, @KellyCNBC Steve Liesman, @steveliesman Geoff Cutmore, @GeoffCutmore Klaire Odumody, @klairemarie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Claire O'Dumurdi, today on Squag Pod.
0:09.0	Lifeline.
0:11.0	Markets are fragile. people are nervous, they are looking for weak hands.
0:17.0	Is bad news actually going to be considered bad news?
0:20.0	Was anyone worried in 2008 about their credibility?
0:22.0	Keep it from blowing up.
0:23.5	Isn't that the only job?
0:24.9	Credit Suisse back stopped by the Swiss Central Bank,
0:27.6	the latest in a wild week of worry
0:30.0	over the financial sector.
0:31.5	What's the impact on US economic policy?
0:34.0	CNBC Steve Leesman.
0:35.8	The outlook for the Fed remains pretty much in very dovish territory,
0:40.0	more so than it did a week ago.
0:42.4	Roqueana, California Congressman, on the Silicon Valley Bank Collabs and its threat to tech culture.
0:48.0	I think this shows that the Libertarian philosophy does not work, that there are times that you need government involvement.
0:57.0	Rocking the markets, rocking sea suites, and how to keep the business boats afloat,
1:01.0	former four-star journal Stanley McChrystal.
1:04.3	If you strengthen your organization's ability to respond,
1:08.1	their confidence to adapt, their communication,
1:11.6	they're going to be much more responsive when that crisis does come.
	...

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