Mark Zuckerberg’s Metaverse Ambitions, and What Powell’s Warning Means for the Market 06/22/22

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.9 • 1.3K Ratings

🗓️ 22 June 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jim Cramer sat down with the Meta CEO to talk about his goals to grow the company formerly known as Facebook. We’ve got a first look at the interview and a deep dive on the potential held in the metaverse. Plus Fed Chair Powell acknowledging the possibility of a recession if the central bank keeps hiking rates. How you should set yourself up for that possibility. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	Right now on fast, a Fed chairman telling Congress he is strongly committed to
0:04.9	bringing down inflation. He hopes the rate hikes do not push the economy
0:08.3	into recession, but says it is certainly a possibility. We will dig into
0:12.0	Chair Powell's hawkish push and how will impact the markets. Plus, Meta's
0:15.6	mega-metaverse push. CEO Mark Zuckerberg going one-on-one with Mad Money's
0:20.2	Jim Kramer right now. We will have a sneak peek into the exclusive
0:24.0	conversation. Jim also, by the way, got to spend some time with Zuckerberg in
0:28.2	the Metaverse. The traders are ready to break down Meta's big bet. And later
0:32.2	the fine print on Revlon's off-the-chart surge. Why the desk is
0:35.9	warning that you should think twice before buying shares in this Bank of
0:39.6	Cosmetics company. I'm Melissa Lee. This is Fast Money Life in the
0:42.9	Nasak Market site in the heart of Times Square. On the desk tonight, Tim Seymour,
0:46.4	Karen Feiner, Dan Nathan, and Steve Grasso. Markets unable to hold on for a
0:51.0	second day of games today, ending the day slightly lower after Fed Chairman
0:54.2	Jerome Powell's testimony this morning. The Dow up nearly 250 points at its
0:58.0	highs, closing down a tenth of a percent. We're going to get all the market
1:01.4	action later on the show. Well, we start off with the news alert on the company
1:04.4	formerly known as Facebook. Jim Kramer just sitting down for an exclusive
1:08.1	interview with Meta CEO Mark Zuckerberg. Let's listen to what he had to say just
1:12.1	moments ago. The Metaverse is this broad thing. It's not just virtual and
1:18.1	augmented reality, although those are going to be some of the new major computing
1:21.5	platforms that need to get invented for this. But it's also, I think, going to
	...

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