Cramer's Morning Take: Yellen and Powell 3/24/23
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 24 March 2023
⏱️ 3 minutes
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| 0:00.0 | I'm Jim Kramer and you're about to hear a sample taken directly from today's |
| 0:06.5 | CBC Investing Club morning meeting. |
| 0:09.9 | What about the sense? |
| 0:11.5 | You know, a little bit of a Friday sell-off year, not so different from what we saw last |
| 0:15.5 | Friday. |
| 0:16.5 | Is this kind of like, you know, people wanting to take off risk ahead of a weekend where we might not know what headlines |
| 0:23.2 | might come regarding some of the banks. First Republic is certainly one. I think this is about |
| 0:27.2 | First Republic. That is always on people's minds. This is First Republic. If you come in on Monday |
| 0:31.0 | and it's resolved with some sort of decision, whether it goes to zero, whether it gets a lifeline, |
| 0:37.3 | whether it borrows enough money. |
| 0:38.5 | I don't know, it's got negative equity. |
| 0:40.9 | I think the crisis eases. |
| 0:43.7 | Crisis amped up again because Yellen contradicted, it's Powell on Wednesday, which was |
| 0:47.7 | just really terrible. |
| 0:48.7 | Yeah. |
| 0:49.7 | But I can talk about that. |
| 0:50.7 | That's a policy mistake. |
| 0:52.1 | But I very much think that First Republic needs to be |
| 0:55.0 | solved before the sense. Yeah. And I don't think what Yellen said yesterday was that |
| 1:00.1 | encouraging enough either because they have to have clear messaging that all deposits are insured |
| 1:07.5 | for this to, so we can move past this. But even quality companies, fee-based companies, Schwab, |
| 1:14.2 | that one's getting thrown up into this. |
... |
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