Treasury Secretary Janet Yellen & Economist Mohamed El-Erian 6/1/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 1 June 2022

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

Treasury Secretary Janet Yellen says the White House has several strategies that will reduce inflation, which she conceded is too high. In a sit down interview with Becky Quick, former Fed Chair Yellen recaps her meeting with current Fed Chair Jay Powell and President Biden, and she lists efforts aimed at prescription drug costs, the budget deficit, and oil production that could bring down prices. Economist Mohamed El-Erian, Allianz and Gramercy advisor and president of Queens’ College, Cambridge, discusses the Federal Reserve and his outlook for interest rate hikes later this year. In this episode: Janet Yellen, @SecYellen Mohamed El-Erian, @elerianm Becky Quick, @BeckyQuick Brian Sullivan, @SullyCNBC Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi there, I'm C.N.C. producer Cameron Costa.
0:07.0	Today on Squawk Pod,
0:09.0	A Fed episode, Becky's full sit-down interview with Treasury Secretary and former Fed Chair
0:16.4	Janet Yellen.
0:17.4	Maintaining full employment while bringing inflation down, that's the president's priority and I believe that's consistent with how the Fed sees its program.
0:29.0	How we got here with rising costs at every turn, with Alian's and Gramercy Advisor,
0:35.8	famed economist Mohammed Alarian.
0:38.4	The Fed is very late.
0:40.1	The Fed should have started moving a year ago.
0:42.2	They didn't. And that puts the administration in a corner.
0:45.6	President Biden's efforts to fix it, to avoid recession, and to ease America's frustration.
0:52.3	I think it's a lot of messaging right now.
0:55.0	The administration is nervous.
0:56.4	They've got to get out in front of this.
0:57.8	They've got to say to the American people for working on this.
1:00.8	It's June 1st, 2022, and Squack Pod begins right now.
1:05.0	Stand back you by, and three, two, one, fuel break.
1:10.0	Good morning, everybody.
1:11.0	Welcome to Squackbox here on CNBC. We are live from the NASDAQ market site in Times Square. I'm
1:16.0	Becky Quick along with Brian Sullivan Joe and Andrew are out today.
1:19.7	Yesterday closed out the month of May and what a month it was.
	...

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