David Rubenstein, the FOMC, & Saving Spirit Airlines 4/29/26

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2 • 543 Ratings

🗓️ 29 April 2026

⏱️ 41 minutes

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Summary

Today is likely Jay Powell’s final FOMC meeting as Federal Reserve Chair, with Kevin Warsh expected to be sworn in as his successor. Carlyle Group co-founder and co-chairman David Rubenstein discusses the Fed’s two-day policy meeting and Powell’s legacy leading the central bank. Then, a heated debate over a potential federal rescue of Spirit Airlines: Association of Flight Attendants international president Sara Nelson and Advancing American Freedom senior fellow Joel Griffith break down the pros and cons of a $500 million bailout. Plus, Elon Musk continues his testimony in the high-profile trial against OpenAI CEO Sam Altman, and CNBC’s Dan Murphy reports on the UAE’s departure from OPEC. Dan Murphy - 06:35 David Rubenstein - 16:00 Sara Nelson & Joel Griffith - 30:32 In this episode: David Rubenstein, @DM_Rubenstein Sara Nelson, @FlyingWithSara Joel Griffith, @JoelGriffith Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music, please.
0:04.3	This is SquawkPod, and I'm CNBC producer Cameron Costa.
0:08.6	On today's episode, Jay Powell's last FOMC meeting as Fed Chair is today.
0:15.9	Carlyle co-founder David Rubenstein on Powell's legacy and the policies of his likely successor, Kevin
0:22.1	Warsh. He can dream big, but there's a war on. I think he will recognize that getting a Fed
0:27.5	fund's cut rate now is not going to be easy. As Kevin Warsh said in his testimony, he would
0:32.5	like to lower rates. Everybody would like lower rates, but I wouldn't expect it would happen overnight.
0:39.0	And the major shift in the Middle East, CNBC's Dan Murphy reports on the UAE's epic OPEC departure
0:46.8	straight from Dubai. This is a country that's looking to a post-oil future. Is it a break with Saudi
0:53.2	Arabia or simply an economic evolution?
0:56.6	The UAE has basically outgrown the optics of OPEC as well and is better off alone as an
1:03.0	indispensable partner for Washington rather than a constraint member of a quote-unquote cartel.
1:09.8	And finally, a spirited debate about spirit.
1:14.3	Airlines, that is.
1:15.7	19,000 people between the direct employees and the contractors who will suddenly be out
1:19.8	of work, out of their health care, people who are getting ready to have babies.
1:22.9	They're in the middle of cancer treatments and everything else.
1:24.8	So we need to think about how we're supporting the American people. Association of Flight Attendance International President Sarah Nelson
1:32.0	and Joel Griffith from the think tank advancing American freedom. This is not due to the current
1:38.7	situation in Iran with higher fuel prices. This has been a long-time mismanagement and a long-time accumulation of debt.
1:47.0	It's Wednesday, April 29th, 2026, and SquawkPod begins right now.
1:53.3	Stand back you by in three, two, one. Cure, please.
	...

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