Hike #9, Winning AI, & the SEC’s Celebrity Targets 03/23/23

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2 • 543 Ratings

🗓️ 23 March 2023

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The Federal Reserve announced a rate hike of 25 basis points, its ninth consecutive hike in the last year. Chair Jerome Powell softened his tone on the central bank’s aggressive hiking policy, and the markets interpreted his comments as a hint that the end of the hikes may be approaching. Though temporarily sated by Powell’s comments, markets bristled at those of Treasury Secretary Yellen to a Senate subcommittee. Real estate mogul, investor, and Starwood Capital CEO Barry Sternlicht digests the Fed’s policy and its impact on the American economy. CNBC’s Jon Fortt maps out the AI landscape and its potential winners, including big players like Microsoft, and smaller contenders like Duolingo. Plus, the SEC is cracking down on crypto by going after celebrities. In this episode: Jon Fortt, @jonfortt Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squawk Pod and I'm C.N.C. producer Cameron Costa.
0:08.0	On today's episode,
0:10.0	inflation remains too high and the labor market continues to be very tight.
0:14.0	We remain strongly committed to bringing inflation back down to our 2% goal.
0:18.0	Fed Chair Jay Powell is hiking rates again and not everyone's happy about it.
0:23.4	This 2% inflation target is made up.
0:26.9	Real estate, Mogul, an investor, Barry Sternlich.
0:30.0	The economy will have a hard landing.
0:31.8	He is using a steam roller to get the price of milk down two cents.
0:35.8	He's just to kill a small fly.
0:38.3	And who wins AI?
0:40.4	CNBC's John Fort on the new crop of companies pushing the tech forward. by CN
0:45.4	Fort on the new crop of companies pushing the tech forward and the
0:45.3	incumbents positioned for success.
0:47.2	These companies were winners in the cloud era.
0:49.3	Now they're selling picks and shovels in the new AI Gold Rush.
0:53.4	Plus, the SEC is cracking down on crypto
0:56.8	by way of celebrities.
0:58.8	That's pretty smart because if you want
1:00.5	to get the most publicity for what you're doing you get big headlines but
1:03.6	going after the celebrities who are involved in this. It's Thursday March 23rd and
	...

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