The Labor Market, & The Venezuela Factor 10/7/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 7 October 2022

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Labor Department has reported that 263,000 jobs were added in September, and the unemployment rate fell to 3.5%. The numbers will likely encourage the Federal Reserve to stay the course, on their aggressive rate hike policy to curb inflation. In the aftermath of the OPEC+ decision to cut oil output by 2 million barrels a day, the U.S. is exploring an ease of its sanctions on Venezuela in an effort to both boost oil flows, ease domestic energy market pressures, and push Russia and Saudi Arabia out of South America. Former CNBC anchor and current member of the Council on Foreign Relations Michelle Caruso-Cabrera breaks down President Biden’s geopolitical strategy. Plus, President Biden has pardoned thousands of people convicted of marijuana possession, global investors remain concerned that Credit Suisse is having liquidity issues, and Elon Musk is working to avoid a trial with Twitter. In this episode: Tsedal Neely @tsedal Michelle Caruso-Cabrera @MCaruso_Cabrera Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	Hi, I'm C. M. C. C. C. C. C. C. C. C. C. C.
0:07.0	C. A. C. P. C. P. P. The big jobs jobs jobs, jobs report.
0:12.0	The number of jobs added to our economy in September 263,000.
0:17.5	Not great, not terrible, but a signal to the Fed, nonetheless.
0:22.9	And geopolitics in the oil patch, Russia, Saudi Arabia, Venezuela, and how the United States
0:29.0	is juggling at all.
0:30.1	Michelle Caruso Cabrera, member of the Council on Foreign Relations, breaks down our energy strategy.
0:36.1	This is all about making sure that we have other supplies in our national interest,
0:40.9	that we've learned a lesson here about increasing the number
0:43.6	of barrels on the market. Those stories plus a cannabis pardon, crunching the
0:49.0	numbers on Twitter, and many of us are back in the office.
0:52.6	Kind of.
0:53.4	So what now?
0:54.9	Tips for making the most of your hybrid work arrangement
0:58.4	with workplace expert and Harvard professor,
1:00.9	Siddal Neely.
1:01.9	Presence management is the sense that you are around,
1:05.9	in sync and in touch.
1:08.3	It's Friday, October 7, 2022,
1:11.2	and Squawk Cloud begins right now.
1:13.4	Stand Becky by in three, two, one, pure please.
	...

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