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

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 19 September 2024

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 - 4:33 Sec. Pete Buttigieg - 18:26 Jonathan Greenblatt - 32:22 In this episode: Jonathan Greenblatt, @JGreenblattADL Pete Buttigieg, @PeteButtigieg Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:04.0	Hi, I'm see NBC producer Katie Kramer
0:07.0	today on Squawk Pod.
0:09.0	The first interest rate cut in four years,
0:12.0	and the Fed has a new strategy.
0:15.0	Recalibration, recalibrating recalibration.
0:18.0	Chairman Jay Powell and 11 of 12 members of his voting board opt for a half-point cut and surprised even us and former Vice
0:25.4	Chairman Roger Ferguson. I thought the analysis would have suggested 25 but I'm not
0:29.6	you know stunned at 50. Plus labor pains, the threat of a strike at ports
0:35.4	on the East Coast, and ongoing stoppages at Boeing,
0:38.3	Transportation Secretary Pete Budajevajevich on striking deals.
0:41.9	I do believe that both parties want to get to a resolution here and hoping to see one that makes sense for the workers and it works for a company that really needs to find its way forward on so many fronts.
0:54.0	And the Anti-Defamation League is joining an employee's
0:56.7	discrimination lawsuit against Intel, ADL President Jonathan Greenblatt
1:01.4	on anti-Semitism in corporate America.
1:04.0	People think, you know, it's just political speech if you target and harass people because of their
1:09.2	Jewish identity or faith and that's wrong, even in a corporate environment like Intel.
1:13.3	It's Thursday September 19th Squawk Pod begins right now.
1:18.9	Stand Becky by in three, two, one, queue please.
1:24.8	Good morning everybody and welcome to Squackbox right here on
1:27.8	C. M. B.C.
1:28.6	We're live from the Nesdac Market site in Times Square.
	...

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