The U.S., Downgraded, the CFTC Mining for Crypto Clarity, & All-You-Can-Fly at Frontier 8/02/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 2 August 2023

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Fitch Ratings has downgraded the United States’ long-term credit rating from AAA to AA+. CNBC DC correspondent Emily Wilkins explains the downgrade and what it means for America’s standing in the global markets. Former President Donald Trump has been indicted on four federal felony charges centering around his alleged efforts to discount legitimate votes and discredit the 2020 election. CNBC Eamon Javers explains the criminal charges, the historical significance and the next steps for American democracy. Chair of the CFTC Rostin Behnam discusses his effort to find clarity for crypto regulation and ultimately crack down on fraud while allowing legitimate enterprises to continue to innovate. Plus, Frontier Airlines CEO Barry Biffle joins CNBC’s Phil LeBeau to discuss his company’s economics and Frontier’s all-you-can-fly passes available on a monthly, seasonal, and annual basis for a flat fee. In this episode: Rostin Behnam, @CFTCbehnam Barry Biffle, @FlyFrontier Emily Wilkins, @emrwilkins Eamon Javers, @EamonJavers Phil LeBeau,@Lebeaucarnews Andrew Ross Sorkin, @andrewrsorkin 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 CNBC producer Katie Kramer today on Squack Pod.
0:09.0	Downgrade, Ratings Agency Fitch drops the U.S US long-term credit rating market
0:14.7	reaction and what this means for Bidenomics Washington reporter Emily
0:18.8	Wilkins. This is just not going to be a good look for Biden and his team.
0:24.0	Former President Trump indicted...
0:27.0	We're just in totally uncharted territory there.
0:29.0	Are Amman Javers on the stunning details?
0:32.0	The defendant told the vice president, quote, and regulating the wild west of
0:39.8	the defendant told the vice president quote you're too honest and regulating the
0:38.8	wild west of cryptocurencies CFTC chair, Rosten-Bainham.
0:43.7	A huge portion, and I've argued up to 70% of the market,
0:47.4	is largely unregulated because they constitute commodities.
0:52.0	Plus, all you can fly for one fee, Frontier Airlines CEO Barry Biffel.
0:57.0	All you can fly fall and winter is a $2.99?
1:00.0	Is that right, Barry?
1:01.0	That's correct.
1:02.0	That's correct. It's a great job. It's a great value in travel.
1:05.0	It is Wednesday, August 2nd, 2023.
1:08.0	Squawk Pod begins right now.
1:11.0	Stand Becky by in three, two, one, queue please.
1:15.0	All right, good morning everybody.
	...

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