“Ripples” in Banking; Marking Up Political & Economic Expectations

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 9 April 2021

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

CEO of retirement services provider TIAA and former Vice Chair of the Federal Reserve Roger Ferguson shares why corporate America should be speaking out against Georgia’s controversial voting law. He discusses his decision to co-sign the letter penned by Black American executives urging their fellow CEOs to speak up for equality and democracy. Plus, in light of Jamie Dimon’s annual letter, Ferguson considers fintech’s role in the financial ecosystem, and in light of Fed Chair Jerome Powell’s comments on the U.S. economy, Ferguson shares his own optimistic outlook for a global recovery. The rise of crypto has created “ripples” for the rest of the financial sector, especially for trading platform Robinhood, CNBC’s Kate Rooney reports. Joe, Becky, and Andrew digest the Amazon union vote and Procter & Gamble’s advertising strategy.

Transcript

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0:00.0	This is Squawk Pod. I'm C. M.C. producer Katie Kramer today on our podcast.
0:06.0	Roger Ferguson of TIA, the black business leader weighing in on voting legislation.
0:12.0	I do not see this as a partisan issue.
0:14.0	I think this is not a Democratic or Republican issue.
0:18.0	This is an American issue.
0:19.0	And the former Fed Vice Chair sees a booming U.S. economy.
0:23.5	I expect the next couple of years to be ones of very robust growth.
0:27.8	Most economists had expected that and I think many of us are actually marking up our growth
0:31.9	expectations both for the US and globally.
0:34.7	Plus Robin Hood adding millions of crypto trading accounts causing ripples in retail investing.
0:40.3	A lot of ripples, a lot of ripples.
0:42.1	Uh-oh. Is ripple a cryptocurrency too? I didn't mean it.
0:46.0	Those stories and Amazon's union vote. Florida's governor says, Let My People cruise and Proctor and Gamble and Privacy Settings.
0:54.6	We know so much about each other.
0:56.3	Yeah, we do.
0:57.7	Way too much.
0:59.3	It's Friday, finally, April 9, 2021, Squack Pod begins right now.
1:05.0	Good morning, everybody.
1:09.0	Welcome to Squack Box here on C.
1:11.0	I'm Becky Quick, along with Joe Kernan and Andrew Ross, Sorkin.
1:14.7	Amazon holding a commanding lead right now in the union elections at one of its Alabama
1:19.1	warehouses. We've been paying a lot of attention to it. When counting stopped last night, there were 1,100
	...

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