Writers Strike Optimism & Bank Stocks “Univestable” 9/21/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 21 September 2023

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The Federal Reserve held rates steady but pointed to another hike this year. CNBC’s Steve Liesman discusses the Fed’s latest decision. Steve Eisman, the “Big Short” investor who called and profited from the subprime mortgage crisis, says he’s staying away from bank stocks. The Neuberger Berman senior portfolio manager, also discussed the latest market trends, the Fed’s inflation fight, the state of the banking sector, and more. Plus, CNBC’s David Faber reports writers and producers are near an agreement to end the Writers Guild of America strike after meeting face-to-face yesterday. Here is the episode of Glenn Close speaking at Berkshire Hathaway’s shareholder meeting on the Hollywood writers strike and A.I. This episode published May 6th, 2023: https://podcasts.apple.com/us/podcast/squawk-pod/id1480890290?i=1000612150771 Steve Liesman - 8:28 Steve Eisman - 16:34 David Faber - 29:25 In this episode: David Faber, @davidfaber Steve Liesman, @steveliesman Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick 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 Pot.
0:08.0	The Fed holds tight, but are the 20-20s, 70s suddenly things are looking similar oil wages
0:15.8	I was gonna say unions scarier one workers demanding more our fed whisper
0:20.8	or Steve Leisman weighs in I think this is a really different environment
0:24.7	from the 1970s.
0:25.8	Put the bell-bottom jeans away, man.
0:28.4	No, they're back too.
0:30.8	The big short, Steve Eisman says he believes the whole bank sector is
0:34.6	uninvestable. He's staying far away. And about the Fed, well, he's not surprised.
0:39.1	And everybody says, we don't believe you and finally after the 15th time they say hire for longer people
0:43.6	say okay that's bet. Plus the NBC's David Faber on Hollywood Studios and the
0:49.3	Writers Union may be finalizing a deal but it won't be easy.
0:53.0	Streaming and the profitability associated with it at this point certainly are nowhere near
0:58.0	what the cable ecosystem that we all have grown up with delivered in terms of profits and or the ability for writers to live a
1:04.8	decent life based on writing a good show. It's Thursday September 21st.
1:09.6	Is that fall? It is. first day. Oh my God.
1:13.0	Squack pod begins right now.
1:15.0	Stand Becky by in three, two, one, queue please.
1:20.0	Good morning everybody.
1:22.0	Welcome to Squack Box right here on
1:23.2	see NBC. We're live from the NASDAQ market site in Times Square. I'm
	...

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