Stock Tumbles & a Fed Preview with Lloyd Blankfein

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 24 January 2022

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

U.S. stocks fell today following the S&P 500′s worst week since March 2020. Riskier assets are also selling off, with bitcoin plunging over the weekend, wiping out nearly half of its value. Lloyd Blankfein, former CEO of Goldman Sachs, discusses cryptocurrencies, plus the Fed’s plan for rate hikes ahead of the FOMC meeting this week. Blankfein explains why he thinks bank stocks are a good place for investors to be and why his view on digital currencies is evolving. Sal Khan, founder and CEO of Khan Academy, provides an update after almost 2 years of remote schooling, and a new NFT project from Parallel NFT project donating 100% of proceeds from the auction to Khan Academy. In this episode: Lloyd Blankfein, @lloydblankfein Sal Khan, @khanacademy Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

Click on a timestamp to play from that location

0:00.0	Bring in show music please.
0:03.0	This is Squawk Pod.
0:06.0	I'm C. NBC producer Katie Kramer.
0:08.0	Today on our podcast.
0:09.0	Lloyd Blank Fine, the legendary former CEO of Goldman Sachs on the Fed, crypto, and the market's rough start to 2022.
0:17.0	Those of us at a certain age are kind of having a little bit of PTSD back to 1994. At this point, is you know the market is a little bit
0:25.6	cringing and online education pioneer Sal Khan Khan Academy and crypto and
0:31.2	handling pandemic learning loss.
0:34.0	There's a large amount of fatigue in the system so I don't think the kids or the system
0:39.0	can handle many more months of this uncertainty and closures off and on.
0:44.0	Plus activists big weekend and millions in Bitcoin wealth wiped out.
0:49.0	When you start to look at the numbers in terms of who got in when, a massive percentage of those who now are literally
0:55.7	living with losses. It's Monday January 24th. Squawk Pod begins right now.
1:01.6	Stand Becky by and and three, two, one, fuel booth.
1:06.0	Good morning, everybody.
1:08.0	Welcome to Squackbox right here on C.M.
1:10.0	I'm Becky Quick, along with Joe Kernan and Andrew Ross Sorkin and wow what a week last week
1:15.4	We needed the weekend just to kind of get our heads back on straight and figure out what had happened
1:20.1	If you were watching the major index is last week you saw that the Dow had a really rough week.
1:25.0	It was down by 4.6 percent.
1:27.0	That's the worst week it's had since October of 2020.
1:30.0	And out of the three of these indices, it was the big winner because the S&P was down by 5.7% almost.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.