Jackson Hole Scaries & the CCP’s Covid Price 8/23/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 23 August 2022

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Markets suffered the worst day since June as investor confidence wavers ahead of the Federal Reserve’s annual meeting in Jackson Hole. Joe Kernen and Andrew Ross Sorkin break down the rough trading day and Wall Street’s expectations for the rest of this week; Morgan Stanley’s Chief Investment Officer Mike Wilson offers some perspective on the likelihood of a full-blown recession, as well as earnings reports for the rest of 2022. In China, the central bank has cut rates again as the country’s persistent Covid lockdowns take a toll on its economy. International policy analyst Dewardric McNeal discusses the balance between public health and economic growth. Also in China, the CCP is facing a political reshuffle as its 20th national congress approaches; CNBC’s Eunice Yoon offers some insight on how domestic politics are affecting international influences–like ‘Minions’--in China. Plus, Elon Musk is asking former Twitter CEO Jack Dorsey for help in getting out of buying the platform, and “House of the Dragon” has given HBO its biggest premiere ever. In this episode: Eunice Yoon, @onlyyoontv 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.N.C. producer Katie Kramer, today on Squawk Pod.
0:08.0	Markets down and desperate to regain our summer rally and the Fed bracing for a meeting in Wyoming.
0:14.5	I think they were always hawkish.
0:16.1	The professional optimist that is the market just decided for two months,
0:21.1	I'm looking the other way.
0:22.3	It's another nail-biter week for investors.
0:24.8	Morgan Stanley's C. I. O'
0:30.8	the markets are doing a really good job of testing everyone, but I still believe we're in the midst of a bear market.
0:34.0	Plus Elon Musk's Twitter founder Jack Dorsey, 10 million views for HBO's Game of Thrones prequel,
0:40.6	and we're heading to China, where interest rates are cut again and tensions
0:44.7	with the CCP are high again our Beijing Bureau Chief Eunice Yun. I think what we are
0:49.8	seeing is that the definition of what is acceptable is the Communist Party's
0:57.0	definition of what is Chinese.
0:58.6	The politics at play and the path ahead for China's president Shizin-Ping,, analyst DeWardrick McNeil.
1:04.0	But popularity, as you know, does not equal power for Shee. She is pretty all powerful regardless of
1:10.4	how popular he may be in China.
1:13.2	It's Tuesday, August 23rd, 2022.
1:16.1	Squac Pod begins right now.
1:18.4	Stand to enter by in three, two, one,
1:21.4	to Andrew. Good morning and welcome to Squacbox right here. 2, 1,2, 1,2 Landers.
1:22.8	Good morning and welcome to Spock Box right here on C.
	...

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