Trump Picks Warsh for Fed Chair, Apple Beats, Chevron CEO "First on CNBC" 1/30/26

Squawk on the Street

CNBC

News, Investing, Business

4.1 • 567 Ratings

🗓️ 30 January 2026

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber led off the show with a long-awaited decision from President Trump: He named Fed governor Kevin Warsh as his pick to succeed Jerome Powell as Fed chair. The anchors explored market reaction to the news, as well as what a Warsh-led Fed could mean for rate policy and investors. Apple shares failed to get a lift despite a Q1 earnings beat and strong iPhone sales. Hear what Jim had to say about investing in Apple now. Chevron CEO Mike Wirth joined the program to discuss the energy giant's better-than-expected quarterly results and reviving oil production in Venezuela. Squawk on the Street Disclaimer

Transcript

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0:00.0	It's Jim Kramer here. You're listening to the opening bell of CNBC Squawk on the Street.
0:04.7	Don't miss a minute of the action.
0:23.2	Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kingtonia with Jim Kramer, David David Faber, host 9 of the New York Stock Exchange. Futures are slightly red as we wrap up the month of January with a likely S&P gain for the month. Finally got a Fed Chair, NOM, and Kevin Warsh yields fairly steady in the wake of that news, even with this hot December PPI, hottest core since July.
0:27.4	Our roadmap begins with the president's pick to be the next Fed chair, nominating Warch to
0:31.4	take over from J-Powell.
0:33.1	Plus Apple reports record revenue, CEO Tim Cook, saying the company is seeing, quote, staggering
0:38.4	demand for its iPhones, especially in China. Software stocks continue to get crushed. Many of them
0:45.0	now deep in bare market territory. Microsoft, by the way, wiped out about $350 billion worth
0:51.3	of market cap. That was just yesterday. And of course, we also have a big
0:55.6	oil reporting earnings. Chevron beat estimates, raised its dividend. Its CEO, Mike Worth, he's going to join us.
1:01.0	It will be a first on CNBC interview this hour.
1:04.5	Let's begin with the president choosing Kevin Warsh to become the next Fed chair. If confirmed by
1:09.4	the Senate, the former Fed governor would take the helm after Jerome Powell's term as chair ends in mid-May.
1:15.0	In his announcement this morning on Truth Social, the president says, quote, I've known Kevin for a long period of time, have no doubt that he will go down as one of the great Fed chairman, maybe the best.
1:25.9	Jim, the profiles are out in full force. What do you think is important
1:29.0	to know about it? Well, I do think that what anyone coming in now knows the heat that you take
1:36.8	if you don't agree with the president. So I don't think you have one persona, which is to agree
1:43.9	the president, and then get in and say, well, I've got to change my mind.
1:47.5	I think that I'm not going to say he's a houseman, but there are a lot of people who have been appointed by Trump who realize the consequences of not agreeing with the president.
1:56.4	The consequences are such that, David, I don't think you want to risk it.
1:59.5	You want to risk what, sorry?
2:01.6	Being on the other side of the president.'t think you want to risk it. You want to risk what? Sorry. Being on the other side of the president.
	...

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