Skip! Fed Speak’s Latest Buzzword 6/01/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 1 June 2023

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Federal Reserve’s buzzword of the week: “skip.” Fed officials have signaled a plan to hold steady on interest rates in June, but urging the public that the decision would not signify an end to the tightening cycle. SMBC Nikko Securities America Chief Economist Joe Lavorgna offers his own extrapolation of the news, as well as what it may mean for Wall Street. In Washington, the President Biden-Speaker McCarthy debt ceiling deal is headed for the Senate. Plus, CNBC’s Steve Kovach has the details from the newest product launches at Meta and Apple, Elon Musk is the world’s richest person (again), and investors are asking, is AI a bubble? Tastytrade’s Tom Sosnoff considers the question and whether the industry could revitalize a sleepy IPO market. In this episode: Joe Kernen, @JoeSquawk Kelly Evans, @KellyCNBC Steve Kovach, @stevekovach 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 Pod.
0:08.0	Skipping a beat.
0:10.0	Don't miss a day about which Fed official might be saying something.
0:14.4	The Fed's latest signal on rates, not a pause, not a pivot, but a skip?
0:19.2	Who's saying what and what it means for the markets with economist Joe Lavornier.
0:23.0	Once they pause, the market's then going to assume they want to ease,
0:26.5	which is the right conclusion the market will draw.
0:29.5	Plus, a debt ceiling deal heading to the Senate.
0:33.0	Elon Musk, rolling in riches,
0:34.8	and Apple's new headset, a ramp into the metaverse?
0:38.6	See, Steve Kovac explains.
0:40.8	It's going to be an apple versus Facebook story.
0:43.0	The hardware and focus on the software.
0:45.0	And IPOs? Are they back?
0:48.0	And are investors even interested?
0:49.0	Tasty Trades Tom Sosnoff.
0:51.0	Investors have a right to take a step back and be concerned about any IPO or any price.
0:55.0	They've been forced-fed some really bad deals over the last couple of years.
0:59.0	It's Thursday June 1st, 2023, Squawk Pod begins right now.
1:06.4	Good morning and welcome to Squawk Box here on the NBC.
1:09.3	We're live at the Nasdac market site in Times Square.
	...

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