U.S. Rating Downgrade, The War of “Woke” & The AI Chip Boom 5/25/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 25 May 2023

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

A warning from the Fitch credit rating agency about U.S. debt added fresh urgency to ongoing debt ceiling negotiations between the White House and congressional Republicans, with only seven days to go before the United States faces an imminent threat of debt default. Brian Deese, former National Economic Council Director, discusses the latest on debt ceiling negotiations and whether a bipartisan deal can be reached. Mega retailer Target is pulling some of its merchandise that celebrates Pride month after threats to employees. Eric Dezenhall, Dezenhall Resources CEO, discusses corporate America taking a stand on social issues, and how companies can best navigate the tightrope over cultural divide. Plus, Nvidia shares spiked 26% on a huge forecast beat driven by A.I. chip demand. In this episode: Eric Dezenhall, @EricDezenhall Brian Deese, @briandeeseNEC Kayla Tausche, @kaylatausche Becky Quick, @BeckyQuick Brian Sullivan, @SullyCNBC 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	On notice, Fitch Ratings Agency warning the U.S. government to get its act together on the death ceiling and avoid default.
0:16.0	The blame, the brinksmanship,
0:18.0	This is looking like 2011 at this point, and the market impact.
0:21.0	Brian Deese who left his top economic post
0:24.0	a few months ago joins us in his first post White House interview.
0:28.0	Holding on to those last set of ideological demands is not worth the harm that we're going to inflict on the American economy.
0:35.0	Target's Pride Month Backlash, Crisis Management Pro Eric Desenhall on corporate America and social issues.
0:42.0	For every company that takes one of these positions,
0:45.5	there are 20 or 30 that are very careful and treading lightly
0:50.1	and are not having these problems.
0:56.0	Becky Quick and Brian Sullivan have those stories today. Plus Chinese hackers, a recession overseas.
0:59.0	I don't know how to say that in German.
1:00.0	Energy Venday is what they say.
1:02.0	And in Vidia, the chip company's blowout quarter that may have changed our future.
1:07.0	Like I was joking, I'm going to change the name of the show, Squawk Box AI.
1:11.0	It's Thursday, May 25th.
1:13.4	Squack Pod begins right now.
1:15.8	Stand Becky by in three, two, one, Q, please.
1:20.9	Good morning everybody.
1:22.0	Welcome to Squackbox here on
	...

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