The Weight of the World’s Sanctions: SWIFT, Oligarchs, & Frozen Assets

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 28 February 2022

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bill Daley, vice chairman of public affairs at Wells Fargo and former chief of staff in the Obama administration, discusses new sanctions against Russia, including the move to block some access to the SWIFT international payment system. CNBC’s Kayla Tausche breaks down the latest moves from the U.S. Treasury Department against Russia, CNBC’s Robert Frank reports on the swath of new sanctions from Western nations against Russian elites, and Eunice Yoon reports from Beijing, where China is struggling to remain neutral over Russia’s attack on Ukraine. Plus, Federal Reserve Chairman Jerome Powell is due to testify before Congress on Wednesday and Thursday for the central bank’s semiannual monetary policy report to lawmakers. Investors will be watching the testimonies closely for any indication on how the Russia-Ukraine crisis may affect the Fed’s plans for raising interest rates and tightening monetary policy more broadly. In this episode: Bill Daley, @WellsFargo Kayla Tausche, @kaylatausche Robert Frank, @robtfrank Eunice Yoon, @onlyyoontv Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squawk Pod. I'm C. M. C. C. C. C. C. C. C. C. C.
0:07.0	C. C. C. C. C. C. C. C. C. C. C. A. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C. C historic sanctions against Russia, unpacking the economic power of a united front,
0:16.0	with former Commerce Secretary and former White House Chief of Staff, Bill Daley.
0:20.5	The Western world, when they act together, can be extremely strong and unified and have an impact that's rather dramatic.
0:30.0	And once again, we're taking you around the world, from DC's decision-making to China's tricky politics.
0:37.0	CNBC's Eunice Eun.
0:39.0	China is finding itself in a very precarious position where on the one hand it wants to be perceived as
0:45.2	anti-American with Russia but on the other hand it has very close economic ties as
0:51.8	you guys have been discussing with the US, with Europe as
0:54.6	well as as Asian allies.
0:56.6	Those conversations plus Russia aside Americans are most concerned about inflation.
1:02.3	We're anticipating Jay Powell's remarks on rate hikes this week.
1:05.6	I'm more in the Jamie Diamond camp of like seven rather than in the camp of some economists I think it's like four.
1:13.6	It's Monday, February 28, 2022,
1:16.8	and Squawk Pod begins right now.
1:19.5	Stand back you by in three two one.
1:23.8	Good morning welcome to Squawk Box here on see NBC.
1:26.6	We are live from the NASDAQ market site in New York's time square.
1:29.7	I'm Becky Quick along with Joe Kernan and Andrew Ross
1:32.0	Sorkin.
1:33.0	And this morning...
	...

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