Investor John Paulson & A 200% Tariff Threat 09/24/24

Vaccine stocks are falling after President-elect Donald Trump has tapped Robert F. Kennedy Jr. to be his Secretary of Health and Human Services. Former Walgreens Boots Alliance executive, John Driscoll, shares his concerns about the potential impact and what it could mean for the future of healthcare policy. Home Depot CEO, Ted Decker, discusses how inflation is hitting consumers and how the company is responding to the pressure. Plus, Ark Invest’s Cathie Wood discusses her bet on Tesla and what she thinks Elon Musk’s new role in government could mean for the company - and for the future of innovation in the U.S.John Driscoll - 02:24Ted Decker - 13:11Cathie Wood - 30:29In this episode:Cathie Wood, @CathieDWoodBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinZach Vallese, @zachvallese

President-elect Donald Trump said he will nominate Rep. Matt Gaetz, (R) Florida, to be attorney general. CNBC’s Eamon Javers has the latest from Florida on the surprising selection, as Gaetz is the subject of a House Ethics Committee investigation into whether he engaged in sexual misconduct. Tom Barrack, a longtime Trump ally who chaired his 2016 inaugural committee, shares his insight on the president-elect’s hiring style, the Department of Government Efficiency and expectations for Trump’s second term. Plus, the FBI raided Polymarket CEO Shayne Coplan’s home and the AI version of Andrew Ross Sorkin makes a special Squawk Box appearance. Eamon Javers - 02:23Tom Barrack - 19:32 In this episode:Eamon Javers, @EamonJaversTom Barrack, @TomBarrackJrBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinZach Vallese, @zachvallese

President-elect Trump announced last night that Elon Musk and Vivek Ramaswamy will head a Department of Government Efficiency, DOGE for short, to trim government spending during his second administration. CNBC’s Eamon Javers has the Trump team’s latest from West Palm Beach. Next, the Senate is gearing up for a vote today on who will be the next majority leader. Eric Cantor, Wall Street executive and former Republican House leader, gives his prediction on the leadership race and discusses his outlook for M&A and regulation under Trump. Also, shares of fast-casual Mediterranean restaurant Cava are soaring on the company’s earnings beat. CEO Brett Schulman says Cava is a “category-defining brand” and discusses his growth outlook. Eamon Javers - 02:23Eric Cantor - 16:21Brett Schulman - 27:20 In this episode:Eamon Javers, @EamonJaversEric Cantor, @EricCantorBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

Lawmakers and economists are debating the future of the Federal Reserve after President-elect Trump’s promises to fire Fed Chair Jay Powell and Senator Mike Lee’s (R-UT) call to #EndTheFed. Judy Shelton and CNBC’s Steve Liesman to discuss the role of the central bank and the constitutional precedent for Fed independence. As the AI revolution ramps up, Goldman Sachs’s Jared Cohen highlights the infrastructure needed to support the technology’s energy demands. Cohen calls for “data center diplomacy” as AI underscores geopolitics and competition between China and the United States. Plus, the price of bitcoin reached nearly $90,000, Trump’s victory has lifted Elon Musk’s net worth by $70 billion, and Trump’s latest picks for his second administration include Sen. Marco Rubio, Rep. Mike Waltz and Gov. Kristi Noem. Jared Cohen - 12:43Judy Shelton - 25:53 In this episode:Jared Cohen, @JaredCohenJudy Shelton, @judyshelSteve Liesman, @steveliesmanEamon Javers, @EamonJaversBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

President-elect Donald Trump has begun to make his first appointments in his new administration. Over the weekend, he named Tom Homan as border czar, said Nikki Haley and Mike Pompeo will not join his second term, and wrote on Truth Social that the Senate majority leader should agree to allow recess appointments to Trump’s cabinet. On X, Senator Mike Lee (R-Utah) suggested reasons to “#EndtheFed,” garnering support from Elon Musk. Lazard CEO Peter Orszag weighs in on Fed independence and discusses what to expect after the transfer of power, including the market impact and the M&A cycle. Next, Property Brothers Drew and Jonathan Scott discuss the state of the housing market and their new HGTV show “Don’t Hate Your House,” focused on how homeowners who can't move are renovating their homes.  Peter Orzag - 14:21Drew & Jonathan Scott - 29:01 In this episode:Drew Scott, @MrDrewScottJonathan Scott, @JonathanScottBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

In the central bank’s latest decision, the Federal Reserve cut its benchmark rate by 25bps. While Democrats wrestle with what went wrong for Vice President Harris, Republicans are making plans for President-Elect Trump 2.0. Former Republican presidential candidate Vivek Ramaswamy and former Trump staffer turned Harris-backer Anthony Scaramucci debate immigration policy and whether the country can “turn the page” under the new administration. Plus, Susie Wiles will be Donald Trump’s White House chief of staff, the Washington Post has called employees back to the office five days a week, and a New Jersey voter endorsed a certain Squawk anchor for president.  Steve Liesman - 06:53Vivek Ramaswamy & Anthony Scaramucci - 19:58 In this episode:Vivek Ramaswamy, @VivekGRamaswamyAnthony Scaramucci, @ScaramucciJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

In the week leading up to election day, presidential election contracts on Polymarket, Kalshi, and PredictIt all indicated Donald Trump had a wider lead ahead of Kamala Harris than traditional polls. In his first-ever TV interview, Polymarket CEO Shayne Coplan discusses his company’s role in elections and the rising popularity of prediction markets, which allow bettors to wager on election outcomes. The Wall Street Journal’s Tim Higgins highlights Elon Musk’s influence among young men, saying Musk gave them “purpose” in voting for Trump. Plus, the House race remains uncalled, smart ring maker Oura is out with a new report on election day stress levels, and Wall Street awaits the Federal Reserve’s next rate cut decision. Shayne Coplan - 14:51Tim Higgins - 32:15 In this episode: Shayne Coplan, @shayne_coplanTim Higgins, @timkhigginsBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY

Another Trump administration might mean big changes to America’s financial system. Scott Bessent, economic advisor to Trump and potential Treasury Secretary pick, shares insights on Trump’s proposed tariffs and a red Senate. Plus, Bessent discusses his behind-the-scenes role in shaping Trump’s economic policies.Bessent - 03:33In this episode:Becky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

What are the market implications of a potential "red sweep" in the 2024 election? Billionaire private equity investor and Carlyle Group co-founder David Rubenstein offers his take on what the outcome could mean for the country’s economic future and the markets. Plus, Rubenstein weighs in on the challenges ahead, from tackling the national deficit to navigating political divisions.Rubenstein - 03:42In this episode:David Rubenstein, @DM_RubensteinBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

In this special episode, we dive deep into morning-after analysis of the 2024 election. How did former President Donald Trump pull off his win? Investment banker Roger Altman breaks down the campaign’s winning argument, pointing to a crucial shift in voter sentiment: "Are you better off than you were four years ago?" Plus, pollster Frank Luntz weighs in on the unwavering support behind Trump and what that means for the future of American politics. He also offers Democrats some advice to move forward.Altman - 04:32Luntz - 20:53In this episode:Frank Luntz, @FrankLuntzBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie