The Fed’s Rate Cut Calculus & Betting Olympic Odds 07/12/24

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 12 July 2024

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

If inflation numbers are improving, the Federal Reserve should be ready to cut interest rates–maybe. Wall Street Journal Chief Economics Correspondent Nick Timiraos, known as the ‘Fed whisperer,’ explains the Fed’s rate cut calculus, including inflation metrics and changes in the labor market. CNBC’s Megan Cassella reports on Capitol Hill’s reaction to President Biden’s rare, unscripted press conference, and EU regulators are taking aim at Elon Musk’s X platform. Plus, the Paris Olympics are just weeks away! Washington University in St. Louis Sports Business Director Patrick Rishe says Americans are ready to bet on everything, from gymnastics to basketball. Megan Cassella - 7:37 Nick Timiraos - 15:20 Patrick Rishe - 25:15 In this episode: Nick Timiraos, @NickTimiraos Megan Cassella, @mmcassella Melissa Lee, @MelissaLeeCNBC Joe Kernen, @JoeSquawk 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 Squawk Pod.
0:09.0	Inflation data is not so bad lately, so what is the Federal Reserve waiting for to make its next move?
0:16.0	Fed Whisperr and Wall Street Journal correspondent Nick Timrose.
0:19.0	If you're saying everything's okay to cut, well why aren't you doing it now?
0:23.0	What are you waiting to see?
0:25.6	And the countdown to the Paris Olympics is on.
0:28.7	Coming up right around the corner.
0:30.1	Are you packing your beret?
0:31.4	I'm gonna buy one when I get there.
0:33.1	Barets and bets.
0:34.7	Sports business professor Patrick Rish has the odds on the Olympic gambling market.
0:39.3	I would be impressed if it was even a third of March Madness, which would put it at about a billion dollars.
0:45.2	I don't know if it will get there, but it is going to be bigger than it has been in the past.
0:50.2	All that today, plus a high stakes press conference from President Biden,
0:54.4	and European regulators cracking down on another American company.
0:58.8	They don't even need an economy anymore, I don't think.
1:01.2	It can just...
1:02.2	Collect global revenues from the US
1:04.0	six percent of global revenue. It's Friday July 12th
1:08.1	Squawk Pod begins right now. Stand by in three, two, one, fuel please.
1:16.4	Good morning and welcome to Squawk Box here on the NBC.
	...

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