A Warning for the Fed, A Chemo Shortage, & JPM’s $290m Settlement 6/12/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 12 June 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

On the eve of the Federal Reserve’s next interest rate decision, former Fed Governor Kevin Warsh, a veteran of the 2008 crisis, offers a warning to the central bank and the markets: the banking troubles may not be over yet. In his WSJ op-ed, he urges the Fed and investors to find some “risk management.” Nearly all of the country’s cancer centers have reported a chemotherapy shortage. Former FDA Commissioner Dr. Scott Gottlieb explains the regulatory and manufacturing issues that have led to the backup, and offers systemic solutions to keep care coming to cancer patients. Plus, Illumina has announced a CEO transition plan, Goldman Sachs has lowered its oil price outlook, and JPMorgan has reached a settlement with survivors of Jeffrey Epstein’s abuse. In this episode: Dr. Scott Gottlieb, @ScottGottliebMD Eamon Javers, @EamonJavers Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C.N.C. producer Katie Kramer, today on Squawk Pod.
0:09.0	Preventing another financial crisis,
0:12.0	former Fed Governor Kevin Warsh, a veteran of 2008,
0:15.2	with a warning to the Central Bank on the eve of a critical interest rate decision.
0:19.7	In the event things don't go well, we should use this moment to protect ourselves and protect the banking system.
0:27.0	And a chemotherapy shortage what's slowing down potentially life saving drugs?
0:33.0	Former FDA Commissioner, Dr Scott Gottley.
0:35.0	The White House wants more regulation.
0:38.0	The industry wants subsidies.
0:39.0	I think if we're going to get to a solution,
0:41.0	we're going to have to find a way to pay for quality and
0:43.7	reliable manufacturing.
0:45.7	All that today, plus a snarl on I-95, a CEO Change Up at Illumina, a new outlook on
0:52.0	oil, and J.P. Morgan settles with survivors of Jeffrey Epstein's
0:56.2	abuse.
0:57.2	See, and B.C.'s Aeman Javers has that story.
0:59.5	Now, the settlement removes what had become a real headache for Jamie Diamond is one of the most iconic
1:03.8	executives on Wall Street.
1:06.4	It's Monday, June 12, 2023, Squawk Pod begins right now.
1:12.1	Stand Becky by in three, two, one, cure-free.
1:15.0	Good morning everybody.
	...

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