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Squawk Pod

Evacuation Complete; Energy at Home & Abroad; Fed Talk with Mohamed El-Erian

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 31 August 2021

⏱️ 32 minutes

🧾️ Download transcript

Summary

America’s 20-year war in Afghanistan came to an end as the Americans stationed there finished their evacuation. CNBC’s Eamon Javers details the military’s next steps for extracting the remaining group of Americans in the country, as well as the Biden administration’s strategy to monitor the Taliban. CNBC’s Frank Holland reports on how residents of New Orleans are planning for the days ahead as the city remains without power and with limited access to other resources in the wake of Hurricane Ida. After the storm shut down at least six Gulf Coast refineries, RBC Capital Markets head of global commodity strategy Helima Croft discusses energy production as the region gets back on its feet. Croft considers other headlines in oil, including the Taliban’s new role in global energy politics and the upcoming OPEC meeting. The Federal Reserve is looking for signals from the labor market to gauge when it should tighten monetary policy. CNBC’s Steve Liesman and Mohamed El-Erian, Allianz and Gramercy advisor, discuss the upcoming August jobs report, Fed Chair Powell’s comments at Jackson Hole, and the Delta variant’s impact on inflation and the U.S. economic recovery. Plus, PayPal is exploring adding a new stock-trading feature to its platform, and China is cracking down on gamers.

Transcript

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0:00.0

Bring in show music please.

0:03.0

This is Squawk Pod.

0:06.0

I'm C. N.C. producer Cameron Costa.

0:08.0

Today on our podcast, Hurricane Ida's impact on the Gulf Coast,

0:13.5

CNB sees Frank Holland on the ground.

0:16.0

Down power lines and trees all around the city,

0:19.0

panic and desperation, also building here.

0:21.5

People also trying to buy as much ice, whole water and

0:24.8

non-perishable food as they can find. And what it all means for US oil production and

0:29.3

gas prices, RBC's head of commodity strategy Halima Croft.

0:34.0

Golf of Mexican oil production is not nearly a substantial fraction of US production as it was, for example, during Hurricane Katrina.

0:41.0

Ever since the Shell Revolution, that is not nearly as important

0:45.1

as a supply base for U.S. production.

0:48.0

From energy interests in the Gulf of Mexico to energy interests in the Middle East, The geopolitics now would play in Afghanistan

0:55.8

and how we're getting the last Americans out.

0:59.2

C.N.

1:00.2

E.

1:01.2

They just weren't able to get to all these people and I think

1:03.6

that the president is really going to have to explain that and what's going to be

1:07.0

done for them in the days and weeks to come. And a warning from economist Mohammed

1:12.4

Alarian,

1:13.2

monetary policy, the Jackson Hole Economic Symposium,

...

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