Frog in a Fire, Toothpaste out of the Tube: Paul Tudor Jones on Recession & Inflation 10/10/22

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CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 10 October 2022

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ahead of Robin Hood’s annual Investors Conference, Robin Hood Foundation founder Paul Tudor Jones considers whether the U.S. economy is in a recession, the Federal Reserve’s role in getting us here, and Fed Chair Jay Powell’s plan to get us out. A billionaire hedge funder and legendary trader, Paul Tudor Jones weighs in on the crypto market and offers some macroeconomic perspective, explaining the market’s short term pain ahead of our economy’s long term gain. As a founder of the anti-poverty nonprofit Robin Hood and the ESG-tracking nonprofit JUST Capital, he addresses backlash against ESG and greenwashing, as well as the geopolitical risks facing our long-term prosperity. Plus, congratulations to former Fed Chairman Ben Bernanke! In this episode: Paul Tudor Jones, @ptj_official Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk 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 C. NBC producer Katie Kramer, today on Squawk Pot.
0:08.0	On the brink of recession, it could be now, it could be soon.
0:12.0	There's going to be short-term paying associated with recession, it could be now, it could be soon.
0:12.6	There's going to be short-term paying associated with long-term gain.
0:16.4	Paul Tudor Jones, billionaire hedge fund manager and legendary trader, says ready or not, it's on its way.
0:22.8	When we get into that recession there will be a point when the Fed stops hiking.
0:27.2	When that happens you'll probably have a massive rally in a variety of beaten down
0:32.0	inflation trades.
0:33.6	His take on the Fed's playbook and the market's response,
0:36.7	plus cold water on the green washers,
0:39.3	what really does the most good
0:41.0	from the founder of the Robin Hood Foundation and just capital.
0:43.9	I think the critics of ESG are as wrong as a frog and a fire.
0:47.7	ESG, first of all, it suffers because they have the emphasis on the wrong syllable. It really should be social governance
0:55.1	environmental. And congrats to Ben Bernanke, the Federal Reserve Chairman
1:00.6	during the last financial crisis, is now a Nobel Laureate for his work
1:04.3	studying history's mistakes. I would argue as you know I've been arguing since
1:08.8	2008 that the Fed did it right. That was 2008 we're dealing with this right now and someone would say
1:14.4	that the last chapter's not written yet on getting out of the Roach Motel that we
1:18.0	checked into and we can't get out of. It's Monday October October 10, 2022.
1:23.4	Squawk Pod begins right now.
	...

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