Congressional Stock Trades and the Inflation Equation 9/14/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 14 September 2022

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Markets have their worst day since June 2020 following worse than expected inflation data. Squawk Box anchors Joe Kernen, Becky Quick and Andrew Ross Sorkin hit the impact of inflation on investors, the housing market, and the outlook for the Fed’s next interest rate decision. Members of Congress can buy and sell stocks with few restrictions, The New York Times’ Kate Kelly reports on the paper’s exhaustive analysis of lawmakers and their family members’ trades. Plus, Twitter’s whistleblower Peiter Zatko tells the Senate Judiciary Committee about security flaws he saw at the social media company and Softbank is considering raising a third “Vision Fund”

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Zach Valise, today on Squack Pot.
0:08.0	Markets in turmoil, an enormous hit for stocks, and it's all to do with inflation.
0:13.9	Everything costs more.
0:15.7	And a New York Times investigation on lawmakers' stock trading,
0:19.7	the journalist digging into it all, Kate Kelly.
0:22.4	Two-thirds of Americans polled on this issue want to see literal bans on individual stock trading.
0:29.1	And you can see why.
0:30.3	If you're on the Armed Services Committee and you're trading Raytheon and Northrop Grumman, that might reasonably be seen to be a potential conflict because you could be in possession of non-public information occasionally or even regular.
0:43.5	Those stories, plus unpacking the Twitter whistleblower testimony,
0:47.5	investing giant soft bank looking to expand,
0:50.4	and mortgage demand is inching down.
0:53.0	Shelter inflation.
0:55.0	Shelter inflation.
0:56.0	It's Wednesday, September 14th,
0:58.0	Squawk Pod begins right now.
1:01.0	Stand Becky by in three, two, one, fuel break.
1:05.0	Good morning everybody.
1:07.0	Welcome to Squack Box here on C.M.C.
1:09.0	I'm Becky Quick, along with Joe Kernan and Andrew Ross Sorkin, and we are live at the NASDAQ market site this morning.
1:15.0	First up today, we're unpacking Tuesday's
1:18.0	sharp sell-off on Wall Street and it was really sharp.
	...

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