SOTS 2nd Hour: Sen. Elizabeth Warren, MongoDB’s Massive Move, Mortgage Fraud Risks Rising? 8/27/25

Squawk on the Street

CNBC

Investing, News, Business

4.1 • 567 Ratings

🗓️ 27 August 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Mike Santoli and David Faber interviewed Sen. Elizabeth Warren at the top of the show, discussing President Trump’s firing of Fed Governor Lisa Cook, as well as her thoughts on the government’s 10% stake in Intel. The anchors also discussed the potential overblown fears of the slowdown for software after shares of MongoDB shares surged more than 30% on their earnings print. Also in the mix: CNBC’s Diana Olick discussed her new piece on how mortgage fraud might be less widespread than people think. Squawk on the Street Disclaimer

Transcript

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0:00.0	Good Wednesday morning. Welcome to Squawk in the Street. I'm Carl Kintenea with Mike Santoli, David Faber,
0:04.0	Post 9 of the New York Stock Exchange. Sarah Eisen is off today. Waiting on NVIDIA tonight,
0:08.0	although Nvidia is down almost a percent leading to some weakness in the NASDAQ today.
0:14.0	Watching bonds, the long bond, especially, and a steepening of the curve, just about five basis points from the five handle.
0:20.0	Today Senator Warren's going to join us as she speaks out against the president's firing of Fed Governor. and a steepening of the curve, just about five basis points from the five handle.
0:25.2	Today, Senator Warren's going to join us as she speaks out against the president's firing of Fed Governor Cook,
0:30.8	calling the move, quote, an authoritarian power grab that blatantly violates the Federal Reserve Act.
0:35.5	Plus, we're getting you set for the biggest moment of earnings season with a few hours to go until Nvidia Prince.
0:40.1	And we'll talk about this big popper software today, MongoDB, leading that with an analyst who sees even more upside ahead.
0:42.3	We begin with the latest on the drama surrounding President Trump's decision to fire
0:46.3	Fed Governor Lisa Cook, the Fed, saying it would abide by any court decision on whether the
0:51.3	president has the legal authority to make that move.
0:54.1	Let's bring in Steve Leesman, who spoke with another Fed member this morning, Steve, and he offered
0:58.8	his thoughts on it.
1:00.1	Yeah, I'm going to start off with what investors are most focused on, which is interest rates.
1:04.2	New York Fed President John Williams, an exclusive CMBC interview, counting himself among those
1:08.1	who think the Fed is in a position to cut interest
1:10.9	rates and hinted it could be as soon as September.
1:15.4	We are still in a, I would say, modestly restrictive stance. I think the evidence shows that
1:20.1	the economy is gradually slowing, as we talked about, inflation is gradually coming down.
1:24.6	And so if things move in the way that I hope they do in terms of our maximum
1:29.2	employment and price stability goals, then I do think it will be appropriate to move interest
	...

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