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Squawk on the Street

SOTS 2nd Hour: Key Earnings Movers, NYC Comptroller Brad Lander, Plus: Paramount’s New Chairman & CEO 8/8/25

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 8 August 2025

⏱️ 47 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, David Faber, and Leslie Picker kicked off the hour with details on the President’s new pick for the Federal Reserve: Stephen Miran – along with a check on how the broader markets are faring. Former Bridgewater Chief Investment Strategist Rebecca Patterson joined the team at Post 9 with her take, and more on the tariff headlines pushing gold prices to record highs. Plus: a deep-dive on key earnings movers, from Block’s Bitcoin buys to Trade Desk’s tariff warning… and a read on the health of New York City’s economy and pensions – with Comptroller and former Mayoral Candidate Brad Lander, who’s got new numbers when it comes to returns for retirees.

Transcript

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0:00.0

Good Friday morning. Welcome to Squawk in the Street. I'm Carl Kainan with Leslie Picker and David Faber live at post 9 of the New York Stock Exchange. Sarah Eisen has the morning off. Got some risk on this morning as all sectors are green. S&P and NASDAQ up better than half a percent. We're watching, obviously, the VIX back to 16.

0:23.7

Treasury is also a little elevated here as the tenure gets closer back to 4-3.

0:29.1

Coming up on today's show, a can't-miss exclusive interview with David Ellison,

0:32.4

chairman and CEO of Paramount Skydance, fresh off the closure of that long-awaited skydance deal.

0:38.1

New York City comptroller and former mayoral candidate Brad Landers with us.

0:41.7

Talk about the city's pension fund holdings and the latest on the Mamdani campaign.

0:46.1

First, though, President Trump officially announcing a new pick to fill Andrea Kugler's spot on the Federal Reserve Board of Governor.

0:53.0

Steve Leastman's here, and he has that story for us.

0:55.7

Steve.

0:57.3

Hey, good morning, David.

0:58.7

Yeah, the CEA chair, Stephen Myron, has been a stalwart defender of the president's economic

1:03.6

policies and an architect of those key policies.

1:06.5

But the appointment by the president to the Fed to be a Fed governor sounds initially temporary,

1:12.1

the president writing in a tweet.

1:14.0

It is my great honor to announce that I have chosen, Dr. Stephen Myron, current chairman of the

1:18.5

Council of Economic Advisors, to serve in the just vacated seat on the Federal Reserve Board

1:24.0

until January 31st, 2006.

1:26.4

In the meantime, we will continue to search for a permanent

1:28.9

replacement. Evercore ISI writing, given his support of Trump's policies, we think Myron would

1:34.3

likely continue to act as a Trump loyalist once on the Fed Board, calling for lower rates and voting

1:39.8

for rate cuts in FOMC meetings. More than that in the second. Myron, though, has become known as a principal author of the controversial Mar-a-Lago Accords. What do they call for? Weakening the U.S. dollar, boosting U.S. manufacturing, reducing the trade deficit, and using tariffs. Sound familiar? Myron is an economist with a Ph.D. from Harvard. has also called for reform at the Fed, including eight-year terms instead of 14,

2:03.9

and governor's service Myron is an economist with a PhD from Harvard, has also called for reform at the Fed, including

...

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