Disney’s Hugh Johnston & Minneapolis Fed’s Neel Kashkari 8/6/25

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 6 August 2025

⏱️ 40 minutes

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Summary

Disney CFO Hugh Johnston speaks to Julia Boorstin, Joe Kernen, and Becky Quick about Disney’s strong quarterly results and news coming from its subsidiary, ESPN. The sports network will acquire 10% of the NFL and will launch a direct-to-consumer sports streaming product, sidestepping cable. From the Aspen Economic Strategy Group Forum, Andrew Ross Sorkin sits down with Minneapolis Federal Reserve President Neel Kashkari to discuss the independence of the Fed, the President’s tariff agenda, and what he’s extrapolating from the last month of economic datapoints. Plus, HHS Secretary Robert F. Kennedy Jr. cut $500m in mRNA vaccine contracts, and ChatGPT’s parent company is in talks with investors about a share sale at an eye-popping valuation for the still-private OpenAI: $500 billion dollars. Hugh Johnston - 19:16 Neel Kashkari - 32:01 In this episode: Julia Boorstin, @JBoorstin Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music, please.
0:03.0	Hi, I'm CNBC producer Katie Kramer.
0:07.0	Today on Squawk Pod.
0:09.0	A tale of two American economies, is it slowing down?
0:13.0	President of the Minneapolis Federal Reserve, Neil Kachkari, thinks maybe,
0:17.0	and the Fed might have to cut interest rates soon.
0:20.0	What are the ultimate effects of tariffs going to be on inflation?
0:23.6	And what I'm realizing is we may not know the answer to that for quarters or a year or more.
0:29.6	But Disney's CFO Hugh Johnston sees another picture.
0:33.6	Are Americans spending on fun?
0:35.6	There's lots of concern about the consumer in the United States right now.
0:39.3	We don't see it.
0:41.3	President Trump takes a fight against Wall Street a step further, saying he was debanked.
0:47.3	It wasn't just January 6th. It was DEI. It was ESG.
0:51.3	It was fossil fuels. It was guns. I think all this is going to come out as this executive order gets put in place and maybe there's an additional investigation.
1:01.0	So I don't think the story is over.
1:02.0	Let's hope not.
1:04.0	Plus the rest of today's news, vaccine wars, the end of a Doge tradition, and Chat GPT's parent company's eye-popping valuation.
1:12.4	Half a trillion dollars without ever going public, that is astounding.
1:17.1	It's a very busy Wednesday, August 6th, 2025.
1:21.6	Squawk Pod begins right now.
1:24.6	Stand Becky by in three, two, one.
	...

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