Bank of America CEO Brian Moynihan & Senators Klobuchar & Cruz 12/17/24

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 17 December 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bank of America CEO Brian Moynihan sits down with Becky Quick on the Bank of America trading floor. He discusses his market outlook for 2025, the current state of the consumer, the Federal Reserve’s next move, and the incoming Trump administration, including M&A and tariffs. Next, Senator Amy Klobuchar (D-MN) and Senator Ted Cruz (R-TX) discuss their bipartisan bill: the “Take It Down” Act would force social media companies to remove graphic deep fakes. Plus, Friday is the deadline for funding the government, Trump vows to “knock out” drug industry middlemen, and former TV host Carlos Watson is sentenced to nearly 10 years in prison. Brian Moynihan - 15:03 Amy Klobuchar & Ted Cruz - 34:12 In this episode: Sen. Amy Klobuchar, @SenAmyKlobuchar Sen. Ted Cruz, @SenTedCruz Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Zach Vallese, @zachvallese

Transcript

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0:00.0	Bring in show music, please.
0:05.0	This is Squawk Pod.
0:07.0	Today, what 2025 has in store for the second biggest bank in the U.S.
0:13.0	Bank of America CEO Brian Moynihan on the Federal Reserve's next move.
0:18.0	I think our team thinks we're going to cut today a couple of times next year.
0:22.6	And in Congress, a bipartisan team takes aim at social media companies and explicit content.
0:29.6	Senator Ted Cruz.
0:30.6	Amy and I teamed up together to put a legal obligation on the tech platforms to take that garbage down when they know that a victim is being
0:38.1	victimized. And Senator Amy Klobuchar. With the advent of AI, they're literally making up
0:44.8	bodies on the faces of girls or faces on bodies and they are putting this stuff out there
0:50.7	and it's destroying lives. Plus, the other stories that got us squawking, like President-elect Trump's plan for
0:59.6	PBMs in healthcare, and former talk show host Carlos Watson was sentenced to 10 years in prison,
1:07.2	some lessons from his questionable business practices.
1:10.0	Don't do it. Becky. Don't do it.
1:11.2	Becky, don't do it.
1:12.2	Just say no.
1:13.0	I won't.
1:14.3	I'm CNBC producer Zach Vileisi.
1:16.9	It's Tuesday, December 17th.
1:19.6	Squawk pod begins right now.
1:22.6	Stand to enter by in three, two, one, Q Anders.
1:31.6	Good morning. Welcome back to Squatbox right here on CNBC. We are live at the NASDAQ market site this morning in Times Square. I'm Andrew Ross Sorkin, along with
	...

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