Tapering “Transitory” & Merck’s Pill Approval

Squawk Pod

CNBC

Business News, Business, Investing, News

4.2 • 543 Ratings

🗓️ 1 December 2021

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

The markets are reacting to comments from Fed Chair Jerome Powell, who announced a plan to taper its asset purchases faster. He--and the rest of the economist community--is ready to retire the word “transitory,” but his comments have not retired questions and concerns from investors. CNBC’s Steve Liesman explains Powell’s comments. CEO of Lazard’s Financial Advisory business Peter Orszag discusses Fed leadership and Lazard’s efforts to quantify climate issues in the equities market. The FDA has narrowly endorsed Merck’s oral Covid treatment pill; former FDA Commissioner Dr. Scott Gottlieb discusses therapeutics, vaccine efficacy against the omicron variant, and Covid-19’s evolution. Plus, how much do you love Tesla? Enough for a tattoo? In this episode: Dr. Scott Gottlieb, @ScottGottliebMD Peter Orszag, @porszag Steve Liesman, @SteveLiesman Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squack Pod. I'm C. NBC producer Katie Kramer.
0:08.0	Today on our podcast.
0:10.0	Market drama on the heels of comments from Fed Chair Powell, a taper, turbo taper, transitory, or not.
0:17.0	If you ask me about transitory one more time, I'm going to come at, you know, it's just like enough with the transitory.
0:23.7	Thank you, Joe.
0:24.8	Well, almost enough with the T-words, more Fed Talk with Lazard's Peter Orsag.
0:29.8	Let me be a bit of an outlier.
0:31.4	I actually think Jay Powell is doing a great job.
0:33.4	Plus Merck's COVID pill endorsed by the FDA. The former commissioner joins us, Dr.
0:38.8	Scott Gottlie. A lot of the people who are vulnerable and immunoc
0:42.6	compromise have basically become prisoners in their home.
0:45.1	This drug could be providing a measure of
0:47.2	protection and confidence to allow many individuals to live a more normal life.
0:51.3	It's Wednesday, it's December 1st, Squawk Pod begins right now.
0:56.5	Stand Becky by in three, two, one, Q, please.
1:01.3	Good morning. Welcome to Squawkbox here on
1:03.5	see NBC. I'm Becky Quick along with Joe
1:05.8	Hermann and Andrew Ross Sorkin and we're going to start with yesterday's
1:08.6	sell-off because it was a biggie. The Dow
1:10.9	tumbled by 652 points. The S&P was down by nearly 2% and the NASDAQ was off by 1.5%.
1:17.6	It was a bit of an ugly day, a bit of a surprise. But for the month of November, let's check things out. It was bad for the Dow. The Dow was down by 3.7% for the month.
	...

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