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CNBC's "Fast Money"

Federal Judge Blocks Subpoena In Fed Reserve Probe… And Counting Down to Nvidia’s GTC 3/13/26

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 13 March 2026

⏱️ 44 minutes

🧾️ Download transcript

Summary

A fresh wave of semi catalysts lining up for next — from Nvidia’s GTC event to Micron earnings and an AWS–Cerebras tie-up. What Fast Money Friend Gene Munster is watching, and what to expect from Nvidia’s CEO Jensen Huang when he takes the stage. Plus Jefferies’ David Zervos joins us with a simple message for investors: “Don’t panic,” as traders weigh inflation risks, Meta’s reported AI delay, and Boeing’s push to fix wiring issues. Fast Money Disclaimer

Transcript

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0:00.0

Live in the NASDAQ market site in the heart of New York City's Times Square, this is fast money.

0:05.8

Here's what's on top tonight.

0:07.2

We are getting ready for the kickoff of Nvidia's big GTC conference on Monday.

0:11.5

Can the semi-giant come to the rescue for the AI trade and will CEO Jensen Huang deliver on hopes for the company?

0:17.7

We will dig in.

0:18.9

And speaking of AI, Meta reportedly delaying the rollout of its latest large language model amid performance concerns, how do the tech giant fall so far behind the LLM race and can it get itself back on track? Plus, a Boeing bounce to end the week, a year-long boycott of Target comes to an end, and Lulu logs its longest losing streak ever. Well, earnings earnings next week turn things around. We'll head to the options pits to find out. I'm Melissa Lee. Come to you live from Studio B at the NASDAQ on the desks tonight. Tim Seymar, and I, and Steve Grasso and Mike Co. We'll get to all those stock stories in just a bit. We do start off with the latest development in President Trump's battle with Fed Chair Jerome Powell.

0:55.1

Janine Piro, the U.S. Attorney General for D.C., saying the DOJ will appeal a federal judge's decision

1:00.7

to block the subpoena in the criminal probe of Powell. Steve Leesman joins us with all the details

1:07.0

and the implications, of course, for putting Kevin Warsh in as Fed Chair. Steve.

1:12.0

Yeah, there's a couple components to this, Melissa. First, I want to read to you the one part of

1:17.5

the judge's decision, which was very, very damning about Janine Piro and the reason for bringing

1:22.9

this. I think we have a screen there that we can put up and show you what he said.

1:27.8

Did prosecutors issue those subpoenas for a proper purpose?

1:30.7

The court finds they did not.

1:32.6

There's abundant evidence that the subpoena is dominant, if not sole purpose, is to harass and pressure

1:38.2

Powell, either to yield to the president or to resign.

1:41.2

It goes on to further see this as a pattern of harassment or legal harassment.

1:47.0

And this is a separate issue here. Joe Bousselas, to your question, Melissa, just wrote a commentary

1:53.7

saying, any prospective appointment may not occur until, I'm sorry, let's just say 2027, if at all,

1:59.4

based on what key decision makers in the political authority are signaling.

2:02.9

I think that might be extreme, but I think your suggestion there, Melissa, that this could further delay.

2:09.0

And the reason, the hearings of Warsh, and the reason is because there's two separate legal actions that it looks like Genean Piro is taking.

...

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