Bring in show music please.

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

Today on Squawk Pod, a cold, hard look at our economy, bare markets, rate hikes, and all.

Party's over, time to clean up.

D.C. is indeed trying to clean up from some of its own policies.

We're unpacking interest rates and inflation

with real estate mogul and investor Sam Zell.

I think the whole country owes Joe Mansion a giant thank you

for stopping what would have really been a catastrophic result and that

whole buyback better bullshit is just unacceptable.

Real estate's recession worries the president's pitch to US oil acceptable. Trilliers are. It would be redundant to say some really rich people have lost a

trillion dollars because if they've lost a trillion dollars they were very

rich. Those stories plus R. I.P. Internet Explorer. It's Wednesday, June 15th, 2022 and Squawk Pod begins right now.

First up today on the podcast it feels kind of like the gloom report. The S&P 500 dipped deeper into Bear Market territory dropping for its fifth straight day on Tuesday.

The Federal Reserve wraps up its two-day meeting today and the pressure is on Chair

J Powell to respond aggressively to record high inflation and a weakening economic

outlook.

Bitcoin tumbled to an 18 month low and it's all enough to make us feel a little less than celebratory.

Squackbox, Anchors, Joe Kernan, and Becky Quick.

Talk it out.

Did you see the one piece of confetti?

I did.

...