Baby Formula, A Tax Hike, & The Late Show 2/18/26

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 18 February 2026

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Amazon stock has snapped a nine day losing streak, oil prices have responded to U.S.-Iran talks in Geneva, and “Late Show” host Stephen Colbert is calling out CBS for allegedly blocking the broadcast of his interview with Texas state Rep. James Talarico. The FDA is looking into the safety and supply of baby formula in America with Operation Stork Speed. Former FDA Commissioner Dr. Scott Gottlieb explains the way formula manufacturing and safety protocols work in the U.S., including why reformulation is often a complicated, expensive process. Dr. Gottlieb also weighs in on the impact that Vinay Prasad’s leadership is having on investment in health, both for vaccine research and for cell and gene therapies. Plus, NYC Mayor Mamdani has proposed a property tax hike if Governor Hochul does not pass a wealth tax in the state. Partnership for NYC CEO Steven Fulop discusses the proposal and the impact it may have on business leaders based in New York. Steven Fulop 23:29 Dr. Scott Gottlieb 33:50 In this episode: Steven Fulop, @StevenFulop Joe Kernen, @JoeSquawk 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 Squawk Pod, and I'm CNBC producer Cameron Costa.
0:09.0	On today's episode, New York City Mayor Zoron Moundani is threatening a property tax hike in his budget proposal.
0:17.0	That is, if Governor Hokel doesn't pass a wealth tax. Partnership for NYC. Stephen
0:23.6	Fulup does the tax math. If you do what he's proposing to do, taxes in New York City would be
0:29.6	roughly 22% on the corporate side relative to New Jersey, New Jersey, a mile away.
0:35.5	And the FDA's Operation Stork Speed.
0:39.5	A review of baby formula supply and safety.
0:43.0	Former FDA Commissioner Dr. Scott Gottlieb says it's a good idea, but we shouldn't be
0:48.4	comparing America's system to Europe's.
0:51.7	Europe tolerates a much higher level of outbreaks in baby formula than we do in the U.S.
0:55.6	So we require drug-like manufacturing standards.
0:58.3	And that limits the ability of manufacturers to reformulate these baby formulas.
1:03.1	Plus, Amazon has snapped a nine-day losing streak.
1:07.1	And Stephen Colbert's brewing controversy with his own network, CBS.
1:12.6	It's all over an interview with a Democratic Texas state representative.
1:18.1	If the TV gods want to air something, I think they should be allowed to air something.
1:24.2	A lively conversation awaits you.
1:27.2	I'm glad that finally someone is saying, look,
1:29.8	you need to change your ways. It's Wednesday, February 18th, and Squawk Pod begins right now.
1:39.1	Stand to enter by in three, two, one, Q Andrews. Good morning, welcome to Squack box right here on c nbc bc we're
1:47.4	live at the nazdak market site in time square i'm andrew ross sorkin along with joe kernan and
	...

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