Job Growth Rises while Labor Force Shrinks, Mike Novogratz; “We are not going to get a soft landing.” 5/06/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 6 May 2022

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

April’s job growth was strong and wage gains were solid, yet for some reason fewer Americans were working or looking for jobs than in March. Saira Malik, chief investment officer for Nuveen, Nela Richardson, chief economist at ADP, Austan Goolsbee, former CEA chairman and Booth School of Business professor, and Georgetown University’s Nada Eissa react to the better-than-expected April jobs report. Peloton is targeting potential investors, including industry players and private equity firms, to take a stake in its business of around 15% to 20% according to The Wall Street Journal. Galaxy Digital CEO Mike Novogratz discussed the recent market sell-off, and the future of crypto. Plus, Boeing exits Chicago and Spotify makes a $50 Million investment after shares hit a record low. In this episode: Mike Novogratz, @novogratz Nela Richardson, @NelaRichardson Austan Goolsbee, @Austan_Goolsbee Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie

Transcript

Click on a timestamp to play from that location

0:00.0	Bring in show music please.
0:04.0	Hi, I'm C NBC producer Katie Kramer today on Squawk Pod.
0:09.0	Well, that was fun while it lasted.
0:11.0	But after people dump stocks and there was a huge flush.
0:15.1	A wild week on Wall Street, a thousand point Fed relief rally followed by the worst day
0:20.8	of the year as investors fear inflation, slowing growth, and a looming recession.
0:26.2	Great.
0:27.2	Hey, you look at the markets lately, you might be thinking scatological terms of 5%
0:31.8	plus in the NASDAQ in a day that'll get your attention.
0:34.4	And the stocks sell off causing pains for Bitcoin.
0:38.0	crypto bull Michael Novogratz joins us.
0:40.4	We are not going to get a soft landing.
0:42.4	When inflation gets as high as it gets, you need to put the economy in a recession to stop inflation.
0:48.0	Plus the latest on Troubles at Peloton and Boeing, and Spotify's CEO makes a vote of confidence when the
0:54.8	stock's been on a slide. I'm hoping with all this stuff you'll be a winner if
0:57.9	you're long enough. It's Friday, May 6th, 2022. Squawk Pod begins right now.
1:04.0	Stand Becky by in three, two, one, fuel please.
1:09.0	Good morning everybody.
1:10.0	Welcome to Squawk Box here on CMBC.
1:12.0	We are live from the NASDAQ market site in time square I'm
1:15.2	Becky quick along with Joe Kernan and Andrew Ross
1:17.4	Sorkin and here we go folks it's Friday and it's Friday after a heck of a
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.