Red-Hot Inflation; Dr Scott Gottlieb: “I do not see China’s way out of Covid” 5/11/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 11 May 2022

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Inflation rose again in April, continuing a climb that has pushed consumers to the brink and is threatening the economic expansion. The consumer price index accelerated 8.3% in April, more than the 8.1% estimate and near the highest level in more than 40 years. Bitcoin dropped below $30,000 for the second time this week before turning positive as the hot inflation report causes investors to shun risky assets. Purdue University President, Mitch Daniels, former OMB director and former governor of Indiana, discusses the opportunities facing new college graduates amid the U.S.’s tight labor market. Dr. Scott Gottlieb, former FDA commissioner and CNBC contributor, breaks down China’s pandemic response and rising Covid cases in the Northeast. Plus, job cuts at Carvana and Got Milk? Starbucks is under fire from actor James Cromwell for charging its customers extra for vegan milk. That won’t do, Starbucks, that won’t do. In this episode: Mitch Daniels, @purduemitch Scott Gottlieb, @ScottGottliebMD Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C NBC producer Katie Kramer.
0:07.0	Today on Squack-Pod.
0:09.0	Variants to variants, COVID cases rising in the Northeast,
0:13.0	former FDA Commissioner Scott Gottley.
0:15.0	People are getting back to mostly life as normal,
0:18.0	so they're coming into contact with the virus and they're catching it.
0:21.0	And it's graduation season, Purdue President Mitch Daniels says the class of
0:25.6	2022 is in high demand but do you still need the degree? We may well have had for a
0:30.6	long time too many students pursuing a four-year college degree. I think
0:35.8	we're running the risk now after a 20-some point drop of too few. Plus red-hot
0:41.7	inflation taking a toll on the markets and maybe on
0:44.9	crypto's rosy future.
0:46.3	I do think there are people who are looking at Bitcoin right now and they're saying
0:49.1	what is it good for?
0:50.3	Layoffs at formerly high-flyers and got vegan milk. You'll pay for it.
0:55.0	If anything gets me going, charging more for plant-based milk, you...
0:59.0	It's Wednesday, May 11, 2022. Squackpot begins right now.
1:04.0	Stand Becky by in three, two, one, fuel brief.
1:09.0	Good morning, everybody.
1:10.0	Welcome to Squackbox here on C. M.
1:12.0	Live from the NASDAQ market site in Times Square. I'm Becky
	...

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