Inside the Sell-Off; Neel Kashkari; Alexis Ohanian 05/09/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 9 May 2022

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

The S&P 500 is at a fresh 52-week low as the market sell-off continues. Minneapolis Federal Reserve President Neel Kashkari says he’s confident inflation will come back to normal - though it’s taking longer than he expected. His comments come less than a week after the FOMC raised benchmark rates by half a percentage point. The 50-basis-point hike was the largest increase in 22 years and sets the stage for a series of similar-sized moves in the months ahead. Alexis Ohanian, Reddit co-founder and Seven Seven Six founder, breaks down opportunities in the public and private tech sector. Plus, Uber plans to slash spending on marketing and incentives and Dr. Strange ushers in the Summer box office season. In this episode: Neel Kashkari, @neelkashkari @MinneapolisFed Alexis Ohanian, @alexisohanian Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Zach Vallese, @zachvallese

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squawk Pod.
0:06.0	I'm C. NBC producer Zach Valisei.
0:08.0	Today on our podcast.
0:10.0	A market sell-off continues. Does a potential recession loom?
0:16.0	Minneapolis Fed President Neil Cashkari says inflation will come down thanks to the Central
0:21.7	Bank's interventions, but it'll be a painful ride.
0:24.8	I never focus on the stock market as a goal.
0:27.3	Ultimately it is our dual mandate that drives us.
0:30.5	Alexis O'Hanian, social media veteran veteran says stock slides don't make him any less
0:35.4	bullish on tech's bright future. The fundamentals of technology are not going
0:40.0	anywhere, the fundamentals of what software can do are not going anywhere, but you know we're in the
0:44.8	midst of something right now that is the market reacting and markets are going to do what markets
0:48.9	are going to do.
0:49.9	Plus Uber plans to cut back on spending,
0:53.0	and Dr Strange is giving the summer movie season a strong start.
0:57.0	So, what are you watching?
0:59.0	We're always talking about if there's anything good on Netflix,
1:01.0	anatomy of a scandal.
1:03.0	Amazing.
1:04.0	No, I didn't like it.
1:05.4	You didn't?
	...

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