Sen. John Fetterman, Cooling Inflation, & Consumer Demand 07/11/24

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 11 July 2024

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

Inflation slowed in June! The Labor Department released its monthly consumer price index, a measure of costs of goods and services and a key metric for the Federal Reserve. Two economists, Wendy Edelberg of Brookings and Joe Lavorgna of SMBC Nikko Securities America, discuss what the better-than-expected numbers mean for the Fed’s next interest rate cut. Head of Bank of America Institute Liz Everett Krisberg shares Bank of America’s latest consumer checkpoint, which reveals a softening in credit card spending. Plus, it’s a pivotal week for Democrats, whether they’re supporting President Biden’s bid for a second term, or not. Consistent backer Senator John Fetterman (D-Pennsylvania) discusses division in his party, as well as the Biden 2024 campaign. Plus, Apple reached a deal with EU regulators on its mobile payments network, and North American demand for Pepsi products has slowed down. Sen. John Fetterman - 15:41 Liz Everett Krisberg - 28:25 Wendy Edelberg & Joe Lavorgna - 35:43 In this episode: Sen. John Fetterman, @SenFettermanPA Kelly Evans, @KellyCNBC Joe Kernen, @JoeSquawk 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, today on Squack Pond.
0:09.0	The clock is ticking for an 81 year old president to make the case he can do another four years.
0:14.5	Pennsylvania Senator John Fetterman joins us on President Biden's wavering partisan support.
0:19.7	If anybody comes with a, we need to take Gramps' keys away kind of a thing I'm going to
0:24.3	push back in the strongest terms because he is our guy. And here's something to
0:29.4	make the Federal Reserve take notice. Price increases slowed down in June.
0:34.1	Economist Wendy Edelberg on inflation and our next, maybe, rate cut.
0:38.4	This is fantastic news.
0:40.5	Plus, what's going on with consumers? Bank of America's Liz Everett-Chrisburg on the labor factor.
0:46.3	We are seeing some signs of a slowdown, but it's gradual, and we're seeing that in a couple of places.
0:51.8	First, when we look at wages.
0:54.0	Those stories today and so much more,
0:56.1	like Pepsi's Prices and Apple in the EU.
0:58.8	It is Thursday, July 11, 2024.
1:01.8	A jam-packed Squawk Pod begins right now.
1:05.0	Stand by in three, two, one, cue please.
1:10.0	Good morning and welcome to Squawk Box here on
1:13.2	CNBC live from the Nasdaq market site in Times Square.
1:16.4	I'm Kelly Evans along with Joe Kernan.
1:18.3	Becky and Andrew are off today.
1:20.0	It's lovely to be here.
	...

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