Chips, Reese’s Pieces, & Keeping the U.S. Competitive with Intel CEO 7/15/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 15 July 2022

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

The U.S. Congress is set to go on August recess, but Intel CEO Pat Gelsinger has a tough message for them before they go: pass the CHIPS Act, ASAP. America’s manufacturing industry has been waiting on government funding to produce tech’s all-important semiconductors for over a year, and Gelsinger says, it’s a matter of national security. We track the holdup in DC, the impact it’s having on job creation in America’s heartland, and the global chips supply chain. Plus, the USD is nearly at parity with the Euro, and President Biden is halfway through his Middle East travels. In this episode: Pat Gelsinger, @PGelsinger Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	Hi, I'm CMDC producer Cameron Costa.
0:07.0	Today on Squawk Pod,
0:09.0	Keeping America Competitive.
0:11.0	We're talking the building blocks of all tech, semiconductors. But
0:15.5	building those chips costs money and that money is stalled in the US Congress.
0:21.0	CEO of Intel Pat Gelsinger, and his message to lawmakers.
0:25.4	Hey, if I'm not done with the job, I don't get to go home.
0:28.4	Neither should you.
0:29.4	Do not go home for August recess until you have passed the Chips Act.
0:34.0	What's on the line for American industry and national security?
0:39.0	The U.S. has been declining for 30 years in its manufacturing of this industry. If we're going to reverse it, we need to act now.
0:46.3	And if not, the Domino's will keep falling. That big interview, plus heading to Europe,
0:51.6	it might be a good time for your wallet.
0:54.0	There are nice hotels in parts of Europe.
0:56.3	You get your bill and you go, that's bad.
0:58.2	And then you get home and it'd be like, wow,
0:59.6	it's 30% higher than it was.
1:02.2	It's Friday, July 15th, 2022 and Squawk Pod begins right now.
1:07.0	Stand back you by in three, two, one, fuel.
1:11.0	Good morning everybody. Welcome to Squackbox here on
1:13.8	see NBC. We are live from the NASDAQ market site in Times Square. I'm
	...

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