DOJ Powell Probe Backlash, JPMorgan Chase's Earnings Beat, Eli Lilly CEO Exclusive 1/13/26

Squawk on the Street

CNBC

News, Business, Investing

4.1 • 567 Ratings

🗓️ 13 January 2026

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber discussed the Justice Department's criminal probe into Federal Reserve Chair Jerome Powell — and how it's facing blowback from both sides of the aisle on Capitol Hill, as well as condemnation from central bankers around the globe. The anchors also discussed JPMorgan Chase's quarterly beat as the bank's results kick off earnings season. In a CNBC Exclusive at the J.P. Morgan Healthcare Conference in San Francisco, Jim interviewed Eli Lilly CEO David Ricks about obesity drugs and the company's growth into a $1 trillion pharma giant. Also in focus: December CPI holds steady at 2.7% year-on-year, Microsoft's new data center initiative to lower power costs. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CBC's Squawk on the Street.
0:04.7	Don't miss a minute of the action.
0:07.9	Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintenea with David Faber
0:11.4	post nine of the New York Stock Exchange. Kramer once again at the JPMorgan Healthcare Conference
0:15.6	in San Francisco. Futures do erase some losses here as the worst fears about December
0:20.6	CPI go mostly
0:22.6	unrealized. Year on your core, 27 is a 10th light. Meantime, earnings season kicks off with
0:27.4	JPM and Delta tenure is backing off once again off a 4-2. Our roadmap begins with the latest read on
0:33.4	inflation and what it means for the Fed's next rate move as global central bankers now unite
0:38.3	in their defense of J-Powell. J.P. Morgan is kicking off earnings season. The bank beat
0:43.6	estimates this thanks to better than expected trading revenue. We'll keep an eye on that stock.
0:49.3	President Trump announcing a new tariff on any country doing business with Iran. This
0:53.5	a missed a crackdown, of course, on protests there, a move which could derail America's trade deal with China.
1:00.7	And as we mentioned, Jim is out west at the JPMorgan Healthcare Conference.
1:04.9	Eli Lilly's CEO, Dave Ricks, is going to join us or him, certainly for a CNBC exclusive a bit later in the hour.
1:13.1	Let's begin with CPI this morning and the Fed as we dive through some of this data, Jim,
1:17.3	about a half hour old.
1:18.7	There were some fears that there was going to be payback for that cool reading out of November,
1:23.4	but this isn't too bad.
1:25.8	No, I look, shelter's still too high.
1:28.5	Food at home is still too high.
1:30.3	Surprising break and used cars.
	...

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