A 50 BPS Rate Cut, Intel’s Lawsuit, & Boeing’s Strike 09/19/24

As the U.N. General Assembly wraps up, NBC’s Keir Simmons discusses Israel Prime Minister Netanyahu’s speech, protests related to the war in Israel, and the economic fallout from the war in Ukraine. U.K. Prime Minister Keir Starmer sits down with Andrew Ross Sorkin to share his pitch to the global business community and discuss his meeting with former President Trump while in New York. Also on Squawk Pod, Japan will have a new prime minister, Chinese markets recorded their best week in almost 16 years, and OpenAI CEO Sam Altman tells staff he won’t receive a “giant equity stake” in the company. Keir Simmons - 14:50Keir Starmer - 23:07 In this episode:Keir Simmons, @KeirSimmonsPM Keir Starmer, @Keir_StarmerBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY

Investor Mark Cuban has suggested he would take SEC Chair Gary Gensler’s job, should VP Kamala Harris win the election. Both Cuban and Gensler join the show today, along with billionaire investor David Tepper, to talk about market regulation, crypto, and the presidential election. First, Gensler discusses crypto regulation and Elon Musk dodging SEC depositions. Then legendary hedge funder David Tepper, founder and president of Appaloosa Management and owner of the Carolina Panthers, shares his latest portfolio moves--including selling 84% of his stake in Nvidia and increasing his bets on China. Plus, after Vice President Harris’ first network interview of the campaign, Mark Cuban talks about why he supports the Vice President’s economic policies over Former President Trump’s. Gary Gensler - 03:18David Tepper - 27:17Mark Cuban - 58:48 In this episode: Gary Gensler, @GaryGenslerMark Cuban, @mcubanBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

The Department of Justice is suing Visa, Boeing workers on strike have overwhelmingly opposed the company’s latest offer, and a federal judge has ruled in favor of food delivery companies like DoorDash. Billionaire investor Leon Cooperman is betting on equities. The legendary Wall Street veteran weighs in on the markets and the upcoming election, arguing both candidates’ economic plans are disappointing. Plus, as world leaders gather at the U.N. General Assembly in New York, former congressman and current head of defense at Palantir Mike Gallagher discusses President Biden’s address and Iran’s role in the  Israel-Hamas war. Leon Cooperman - 16:24Mike Gallagher - 26:57 In this episode:Mike Gallagher, @RepGallagherBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKlaire Odumody, @klairemarie

Former President Trump threatened a 200% tariff on John Deere on Monday if the company offshores production to Mexico. John Paulson, billionaire investor and adviser to Trump’s presidential campaign, defends the tariff plan, arguing it would create an “American manufacturing powerhouse.” Paulson also responds to concerns about Donald Trump’s character and offers his market outlook, should the former President win a second term. Plus, China will cut the amount of cash banks need to have on hand by 50 basis points, Boeing gives its “best and final offer” to workers on strike, and Meta’s AI chatbot might have a familiar voice.  John Paulson - 15:44 In this episode:John Paulson, @JpaulsonCEOBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

In the wake of the Federal Reserve’s 50 basis point rate cut last week, Minneapolis Fed President Neel Kashkari discusses whether this is “mission accomplished” on inflation and what kind of rate cuts are still coming. He also shares why one FOMC voter cast an historic dissention vote. Next, Andy Dunn, known for co-founding Bonobos, says making friends should be “as easy as calling an Uber.” He has launched a new app called Pie to help people meet new friends in real life through frequent hangouts. Plus, Speaker Johnson has offered a proposal to avoid a government shutdown, FTC Commissioner Lina Khan was on 60 Minutes, and Qualcomm is thinking of buying Intel, which would be the largest tech merger ever.  Steve Kovach - 08:51Neel Kashkari - 17:14Andy Dunn - 29:18 In this episode:Neel Kashkari, @neelkashkariAndy Dunn, @dunnBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY

 This bonus episode of Squawk Pod, from our partners at “The Keynote” features a mogul at the forefront of innovation in social media and tech. CEO of Snap Evan Spiegel spoke with Andrew Ross Sorkin at the Game Plan sports business summit hosted by CNBC and Boardroom on September 10th 2024. They discuss social media’s integration with sports, the future of augmented reality and what he wishes other social media companies would copy about Snapchat. To listen to other interviews from events check out “The Keynote by CNBC Events” here: https://podcasts.apple.com/us/podcast/the-keynote-by-cnbc-events/id1493248246 For information on upcoming events visit: CNBCevents.com In this episode: Evan Spiegel, @evanspiegel Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie 

A new shark has joined Shark Tank: Daniel Lubetzky. Years after founding Kind Snacks, Lubetzky discusses the lessons he’s sharing with entrepreneurs seeking investment and guidance. He says in his founders, he’s looking for grit, wit, and market fit. After the Fed’s 50 basis point interest rate cut, economist and Harvard Kennedy School professor Jason Furman weighs the central bank’s move alongside the economic plans from Vice President Harris and former President Trump. Plus, Nike CEO John Donahoe is being replaced by Elliott Hill in a surprise move, and at Starbucks, new CEO Brian Niccol has a more relaxed approach to hybrid work. Jason Furman - 14:36Daniel Lubetzky - 25:10 In this episode:Daniel Lubetzky, @DanielLubetzkyBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkKatie Kramer, @Kramer_Katie

In a move that largely surprised economists, the Federal Reserve cut interest rates by half a percentage point, the first cut in four years. Former Fed Vice Chairman Roger Ferguson explains the possible reasoning behind the larger-than-expected cut. As Boeing’s strike continues, port workers on the east coast are threatening to strike as well. Transportation Secretary Pete Buttigieg weighs in on both worker plights, as well as the road ahead for electric vehicle infrastructure. The Anti-Defamation League has joined an employee’s discrimination lawsuit against Intel. CEO and National Director Jonathan Greenblatt explains how an Israeli employee who complained about anti-semitism at Intel ended up in a lower-paying job.  Roger Ferguson - 4:33Sec. Pete Buttigieg - 18:26Jonathan Greenblatt - 32:22 In this episode:Jonathan Greenblatt, @JGreenblattADLPete Buttigieg, @PeteButtigiegBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkKatie Kramer, @Kramer_Katie

The House of Representatives is voting on a stopgap funding bill–but Washington expects it to fail. Speaker Mike Johnson (R-LA) discusses the voter verification legislation that he’s attached to the bill, despite limited Republican support. Actor, writer, and producer Mark Duplass is known for his roles on The Morning Show and The Mindy Project, but he’s betting on a big shift for streaming. Ahead of the launch of “Penelope,” Duplass explains his inspiration for his new series and for a new approach to the entertainment business. The EU has ruled to annul a $1.7B fine on Alphabet, and Steve Cohen is stepping further back from the trading desks at Point72, and Ozempic might be targeted for a price cut. Plus, former President Trump has vowed to “get SALT back” if reelected, despite having signed the SALT deduction cap into law during his first term.  Speaker Mike Johnson - 16:02Mark Duplass - 32:38 In this episode:Mike Johnson, @SpeakerJohnsonMark Duplass, @MarkDuplass Becky Quick, @BeckyQuickJoe Kernen, @JoeSquawkKatie Kramer, @Kramer_Katie

Amazon is calling all employees back to the office 5 days a week, your Apple Watch can now detect sleep apnea, and TikTok is in an uphill battle in US courts. Less than 50 days until the Presidential election, former President Trump’s senior economic advisor Stephen Moore debates former campaign manager for President Obama and informal advisor to the VP Kamala Harris’ campaign Jim Messina. The two spar over economic proposals from each candidate. Plus, for an annual $40,000, you can have access to a concierge doctor like Private Medical. Founder and Chairman Dr. Jordan Shlain explains the next level of “investing” in your health.  Jim Messina & Stephen Moore - 17:39Dr. Jordan Shlain & Robert Frank - 33:25 In this episode:Jim Messina, @Messina2012Stephen Moore, @StephenMooreRobert Frank, @robtfrankBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie