Trump’s Tech Support: Silicon Valley Shifts & Signals for the Fed 07/17/24

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 17 July 2024

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

Silicon Valley support is growing for Donald Trump; Marc Andreessen, Ben Horowitz, Peter Thiel, and Elon Musk have each endorsed the Republican nominee, and The Information founder Jessica Lessin says, it might be part of a more widespread shift in tech. Plus, former President Trump is floating ideas for possible cabinet members (like Jamie Dimon for Treasury Secretary), and he’s weighing the risk of dismissing Fed Chair Jay Powell before the end of Powell’s term. One of Powell’s former colleagues, former Boston Fed President Eric Rosengren, discusses the difference between both candidates’ rhetoric and policy, as well as what it means for monetary policy. Plus, President Biden is weighing a Supreme Court overhaul, Elon Musk is moving SpaceX HQ to Texas, and Spirit Airlines is under pressure. Jessica Lessin - 16:37 Eric Rosengren - 27:24 In this episode: Jessica Lessin, @Jessicalessin Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin 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, today on Squawk Pod.
0:09.0	Nearly four months to election day, and Donald Trump is floating ideas for possible cabinet members.
0:15.4	Dialing Jamie Diamond and weighing the risks of dismissing Fed Chair Jay Powell before the end of his term.
0:21.4	One of Powell's former coworkers,
0:22.9	Eric Rosengren, who ran the Boston Fed,
0:24.9	joins us.
0:25.7	That action wouldn't be all that supportive
0:27.8	of what either president would probably want
0:30.0	in order to achieve a soft landing for the economy.
0:33.9	And Trump is collecting endorsements from Silicon Valley.
0:37.4	The information founder Jessica Lesson explains a curious shift to the right
0:41.5	among West Coast leaders.
0:43.0	Andresen, Teal, Musk, you know, they're sort of libertarian in many ways,
0:48.0	but they're ignoring social issues where they may not agree with President Trump.
0:54.1	Plus President Biden considering a Supreme Court overhaul and banks check.
0:59.3	Spirit Airlines is under pressure even with all those extra fees.
1:03.0	So I would never check a bag.
1:05.0	Well, what if you have some type of liquid?
1:07.0	You know, I have hair products.
1:09.0	It's Wednesday, July 17th.
1:11.0	Squawk Pod begins right now.
	...

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