Morgan Brennan, Steve Leeson, Home Depot Co discussed on Squawk Pod
Andros organ. Along with joe. Kernan and morgan brennan in for becky quick. This week it is fed day and all eyes will be on federal. I'm totally having rainfall right. Because it's very early on fed officials this afternoon. We get that pal conference and of course any guidance on think because you said all is and that's a false statement is a false. It's bad grits. Knock program is not going to be on android. Your is going to be on the fed. I think google we'll be on the fan as well editorial warning you think all is going to be on the. That's not true. That is not true again. I'd probably in the country. I would say no more than five percents. Stand point we do. Investigators not steve. Steve leeson's is on the fed. Policeman's eyes will be unevenly. We should say that actually other networks should say that because that is true or special guest here in studio at the nasdaq billionaire investor. Home depot co founder. Ken line goan. He is invited associates chairman and president and nyu langone. So that's that's that's named after you. Health board yeah exactly Thanks who you've been married to for long before you were anything special. Which i don't understand we've talked about that before she she's a great one can let's We only got a couple of minutes to tease. Everyone on what you're going to be talking about for the next hour. You have a cross section of the economy in a lot of your holdings and you still talk to people at home depot. Well there were opening. Economy is in your view. What hot white-hot white-hot white hot when you look at article in the journal yesterday about used car prices. We haven't had this happened since world. War two believe it or not and everyone says every place shortages of labour shortages of materials. Home depot's biggest problem are the vendor's inability to accommodate on needs. Which in part is driven good part driven by the labor shortages in experiencing so that has implications for inflation for wages for for all these different things that going to try and it has policy needs to be adapted to this reality. And you don't think it is with three and a half trillion. I think you're going to take a white hot fire and threw a five gallon. Gas can on top of it. You're going to have flames so high. It's going to be incredible and one one of the fires out the is going to be great. I'm worried about one thing and one thing along the impact on the little person of inflation. I don't believe this is transitory. I don't believe inflation is temporary once you give somebody a raise and by the way roughly sixty five percent of all cost and business labor once you give somebody a raise. You don't take it back. It's locked in. So i think joe whatever's being missing here they ought to take to to i what i'm worried about. Is this whole effort to get. This done is being done by the concern that the democrats have for what's going to happen in two thousand and twenty to think they're they're vulnerable there everybody's writing how everybody conceives the fact that they're in trouble. I mean you look at you. Look at the immigration problem. You look at the crime problem right now and now you've got this this to me is a bet. The ranch bet. We're going to get into this more. So the trillion to fix bridges to do actual spend it. That's okay yes. But the three and a half trillion. No okay not now. Not now look last year. They did the right thing. I read reflection. They did the exact right thing when they've poured money because we didn't know what congress and we don't know where we were. We didn't know when we'd have a vaccine okay. So they did the right thing right now. I would argue. Do truly jim. It infrastructure bridges sidewalks roads. All those things that are in disrepair and by the way they are in disrepair. It's tragedy go. Go in new york city question for for elizabeth warren. Yes okay good can stick stick around next. Unsquashed pod crypto critic. Senator elizabeth warren is warning regulators and investors. About the growing threats. I want people to have freedom to invest. I just don't want a system where the big guys where the shadowy guys can get out there and do pump and dump and later billionaire ken. Langone joins the conversation. Untaxing wealth in america are made all the money. I paid the government. Were i owed them. I paid my share. Covert nineteen vaccination rates are increasing. Infection rates are declining. How did leaders help. People returned to work school and life with confidence. That buildings are healthy and safe. How can company self-insured safety in their facilities from the things people touch to the air they breathe. 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Risk assessment to identify mitigate risk and delivers fact-based expert developed surface disinfection and air quality solutions customized to the specific needs of a building and its occupants its programs are informed by independent experts in infectious disease and industrial hygiene for information on abm solutions for healthier buildings visit. Abm dot com abm dot com. You're listening to squawk pod from cnbc. On tuesday the senate banking committee sort of committee on banking housing. Urban affairs will come to order questioned. A panel of crypto industry experts about systemic risks in a hearing titled cryptocurrencies. What are they good for. Virtual currencies crypto currency stable coins investment tokens have poured into the markets. Now some lawmakers are in favor of the future promise of the industry. Here's senator sent the alumnus of wyoming if we can have a law textbook like this one on virtual currency we should be able to agree on common terms committee chairman. Sherrod brown of ohio said blockchain has many potential nonfinancial uses but he has concerns about digital currencies. They're not real dollars. They're not backed by the full faith and credit of the united states and look forward to hearing more today learning more from our witnesses. Senator elizabeth warren a member of the committee so warned from massachusetts is recognized Thank you mr chairman and thank you and the ranking member for holding. This hearing is calling this week on the government to better police the cryptocurrency market in a letter to treasury secretary janet yelling warren wrote that the treasury's financial stability oversight council quote must act quickly to use it statutory authority to address cryptocurrencies risks and regulate the market to ensure the safety and stability of consumers and our financial system. All the warning signs are flashing the hype the volatility. The wild claims that turn out to be false as the crypto market grows so do the risk to our financial stability and our economy. Regulators need to do their job and step in before. It's too late senator. Warren also told. Sec chairman gary gansler that she wants answers by today. July twenty eighth from his agency on its authority to protect crypto investors. Elizabeth warren spoke about crypto her policies on wealth in the economy and a lot more on our tv broadcast this morning with andrew. Ross sorkin joe. Kernan morgan brennan and special guest. Ken langone. Here's andrew.