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Squawk Pod

The TikTok Bill, SOTU, & the Fed’s Next Move 03/08/24

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2543 Ratings

🗓️ 8 March 2024

⏱️ 31 minutes

🧾️ Download transcript

Summary

President Biden delivered his State of the Union, addressing the tax code, inflationary pressures, and American unions 8 months before the 2024 election. Axios National Political Correspondent Alex Thompson discusses the speech, the reception on the hill, and the impact it may have on voters. TikTokkers inundated their government representatives with calls this week, as lawmakers voted on legislation targeting the platform’s parent company ByteDance. A House committee unanimously approved a bill aimed at forcing a ByteDance divestiture of TikTok; Representative Cathy McMorris Rodgers (R-Wash.) explains the bill’s intended impact, and characterizes the move as “not a ban.” Plus, the February jobs report came in above expectations, while unemployment ticked up to 3.9%. Former Federal Reserve Vice Chair Roger Ferguson explains how the report is likely to impact the Fed’s interest rate strategy in 2024. Alex Thompson - 04:29 Rep. Cathy McMorris Rodgers - 19:45 Roger Ferguson - 27:42 In this episode: Rep. Cathy McMorris Rodgers, @cathymcmorris Alex Thompson, @AlexThomp Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick 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

0:07.0

today on Squackpot.

0:08.0

Good evening.

0:10.0

If I were smart, I go home now.

0:18.8

President Biden's State of the Union address, part campaign speech, part update on the nation, Axios is Alex Thompson on the impact for voters.

0:22.1

A lot of voters don't give Biden credit for inflation coming down to 3%.

0:26.0

They blame Joe Biden for inflation becoming so high in the first place.

0:30.0

Did you hear about the Tik-Tockers flooding the phone lines in Congress asking

0:35.0

lawmakers not to ban the social media app?

0:38.0

Oh there's a nun. Tik-Tok's so nice.

0:40.0

Tik-Tok is on the defensive.

0:42.0

Representative Kathy McMorris Rogers joins us on legislation targeting the parent company.

0:47.0

This is not about targeting Tic-Toc.

0:49.0

This is about a national security threat.

0:52.0

Plus, the February jobs report is in.

0:55.0

The numbers are key for the Fed.

0:57.0

The Central Banks former Vice Chair Roger Ferguson says it's setting the stage for a rate cut this year.

1:02.0

At the end of the day, the Fed analysis is so far so good,

1:06.0

and still sort of no rush to cut.

1:08.0

It's Friday, March 8, 2024.

1:11.0

Squawk Pod begins right now.

...

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