Hot Data, Musk’s Endgame, & A Commuter Comeback: “It’s good for society” 9/13/22

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2 • 543 Ratings

🗓️ 13 September 2022

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Inflation in August rose more than economists were expecting, and the markets are reacting poorly. CNBC’s Steve Liesman, former Acting CEA Chair Tyler Goodspeed, and JPMorgan’s Meera Pandit discuss the repercussions of this data for the Fed’s next rate hikes and the labor market, in September and beyond. Millions of Americans are headed back to in-office work this week, and Walter Isaacson says, it’s about time. The Tulane professor discusses the shift in employer-employee negotiations. Isaacson is also in the middle of writing an Elon Musk biography; he compares this brilliant mind with other brilliant minds, contemporary and historical. He, Joe Kernen, Becky Quick, and Andrew Ross Sorkin consider how the Twitter whistleblower’s testimony will affect Elon Musk’s deal to buy the platform–or rather, his effort to get out of it. Plus, negotiators are trying to avoid a railroad strike. In this episode: Walter Isaacson, @WalterIsaacson Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Steve Liesman, @SteveLiesman Zach Vallese, @ZachVallese

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C.M.C. producer Zach Valise.
0:07.0	Today on Squack-Pod.
0:09.0	Walter Isakson, the biographer on his subject, Elon Musk Musk as the world's richest man heads to court to get out of buying Twitter.
0:17.6	I think that he will make a engineering decision, but you're right, he's not the easiest person to get to settle.
0:26.9	And get back to work.
0:27.9	You learn things by being around other people.
0:30.7	You get mentored.
0:31.7	You need that stimulus, that comp that comes and it's good for
0:35.2	our society. Although for millions of Americans heading back to the office it's a
0:40.2	bargaining chip. What started as emergency measures
0:42.9	because of a global pandemic
0:45.1	suddenly becomes an expectation for workers.
0:47.8	Inflation in America, still too hot for the markets,
0:51.6	J.P. Morgan strategist Mira Pandit.
0:54.4	Even if we did get cooler inflation, which we didn't,
0:57.0	we still haven't seen that sustained trend of disinflation.
1:00.5	And much more on this return to office week of September.
1:04.0	It's Tuesday, the 13th, Squack Pod begins right now.
1:08.0	Stand back you by and three, two, one, fuel break.
1:12.0	Good morning and welcome to Squack Box right here on
1:15.2	c.
	...

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