The investor who inspired the 2015 movie &#8220;The Big Short&#8221; said on Tuesday that he believed President Donald Trump could win the tariff wars — if cooler heads prevail.
Steve Eisman made an appearance on CNBC to promote his new podcast, &#8220;The Eisman Playbook,&#8221; and he weighed in on the market turmoil that followed Trump&#8217;s announcement from nearly a week earlier of implementing tariffs around the globe.
WATCH:
<iframe loading="lazy" title="United States in best possible position to negotiate trade, says &#039;Big Short&#039; trader Steve Eisman" width="500" height="281" src="https://www.youtube.com/embed/wvUYsdjHhv8?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
Despite the tariff-driven uncertainty causing wild dips in the market, Eisman said that it was all about the politics — and if the political side of things resolved, so too would its reflection in the market. As for the economics experts who have panned the Trump plan, Eisman said the primary reason for that was the fact that he was willing to disrupt the status quo in a way that most presidents had not.
&#8220;Everybody of our social class took Econ 101, and we were all taught the same thing: Trade good, tariffs bad, trade war terrible. And that was drummed into everybody&#8217;s heads so hard, with such force that it&#8217;s a paradigm — now you have a President of the United States who doesn’t seem to accept that paradigm, and people find that extremely jarring,&#8221; Eisman said.
&#8220;If reasonable heads prevail, Trump will get pretty much what he wants,&#8221; Eisman predicted, adding that overall, the United States would likely &#8220;suffer the least&#8221; impact from the current turmoil.
&#8220;If countries were rational, countries like Canada and Mexico would basically be coming to the United States and beg – &#8216;We’ll do what you want&#8217; – of the 35%, Mexico and Canada have of their GDP from exports, 25 points of that 35 percent is just exports to the United States,&#8221; Eisman explained, arguing that those countries were aware of their economic limitations and would most likely respond accordingly. &#8220;Those two countries hold no cards. Now, Europe is not much better, and so I think if everyone is rational, they’ll lower their barriers.&#8221;
Eisman did offer one caveat, however, saying, &#8220;Now that doesn’t mean everybody’s rational. There’s politics, some of the politicians might be afraid if we give in we’re going to lose our jobs, that’s the wild card.&#8221;
Eisman concluded by pointing out that, jarring or not, Trump was only doing what he had promised he would do if elected to a second term.
&#8220;You can agree with President Trump, or you can disagree with him,&#8221; Eisman declared. &#8220;He is one of the few politicians in my lifetime who does exactly what he says he’s going to do.&#8221;

US-BUSINESS-EISMAN

‘The Big Short’ Investor Says Trump Will Win Tariff Wars If Cooler Heads Prevail

'The Big Short' Investor Says If Cooler Heads Prevail, Trump Will Win Tariff Wars

CNBC

Economy

Investors

Politics

Tariffs

CNBC&#8217;s Joe Kernen cornered Senator Chris Coons (D-DE) during a Tuesday morning appearance on the network, challenging him to defend Vice President <a href="https://www.dailywire.com/topic/kamala-harris" target="_blank" rel="noopener">Kamala Harris</a>&#8216; steadfast refusal to take the tough questions from media.
Kernen spoke to Coons — who served as an advisor to his longtime friend President Joe Biden until his abrupt exit from the 2024 presidential race — about the fact that Harris has been the Democrats&#8217; de facto candidate for over two months and has rarely taken questions at all, much less from any outlet that might be considered adversarial.
WATCH:
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CNBC&#39;s Joe Kernen grilled Harris surrogate Chris Coons on Harris&#39; lack of interviews this am 
Harris and Walz have participated in 7 interviews, while Trump and Vance have done over 70 interviews and press conferences<a href="https://twitter.com/DailyCaller?ref_src=twsrc%5Etfw">@DailyCaller</a> <a href="https://t.co/zkAOIOKle4">pic.twitter.com/zkAOIOKle4</a>
&mdash; Nicole Silverio (@NicoleMSilverio) <a href="https://twitter.com/NicoleMSilverio/status/1838622570926518504?ref_src=twsrc%5Etfw">September 24, 2024</a></blockquote>
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&#8220;If she would come on, we could get answers to a lot of these things,&#8221; Kernen said, noting that he&#8217;d also like the chance to speak with former President Donald Trump.
&#8220;And I’m just wondering, as a campaign surrogate who advises the campaign, there is an effort to rope-a-dope this thing right until the election, in my view, and the other side’s done 40 or 50 interviews with JD Vance,&#8221; he continued. &#8220;I don’t think I have to take my shoes off to count on my fingers and toes how many interviews she’s done, along with Governor Walz, and that looks like a deliberate effort just not to face the hard questions.&#8221;
<a href="https://www.amiracist.com/" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://www.amiracist.com/&amp;source=gmail&amp;ust=1726313279401000&amp;usg=AOvVaw115_qPFFEePDP86-Fvo-Vd">Am I Racist? Is In Theaters NOW — Get Your Tickets Here!</a>
Axios recently did a <a href="https://www.dailywire.com/news/axios-posts-interview-stats-on-2024-presidential-tickets-and-its-not-close">side-by-side comparison</a> of the two major-party campaigns and their media availability, and it was not even close. &#8220;The Harris-Walz ticket is on pace to do fewer interviews and press conferences than any major party’s presidential pairing in modern U.S. history,&#8221; the outlet reported.
At the time the Axios report was published, Trump had done seven local interviews to Harris&#8217; one. Trump&#8217;s running mate, Senator JD Vance (R-OH) had done 15 and Harris&#8217; — Governor Tim Walz (D-MN) — had done three. And the stats only got worse from there: neither Harris nor Walz has held an official press conference, while Trump has held three and Vance has held 12. Trump and Vance have also done numerous national television interviews (two and 24, respectively) compared to the Harris-Walz ticket&#8217;s one joint pre-recorded interview with friendly host Dana Bash on CNN.

2024 Concordia Annual Summit

CNBC Corners Kamala Surrogate Over Campaign’s ‘Rope-A-Dope’ Media Strategy

CNBC Corners Kamala Surrogate Over Campaign's 'Rope-A-Dope' Media Strategy

Donald Trump

Kamala Harris

Media

House Speaker <a href="https://www.dailywire.com/topic/mike-johnson" target="_blank" rel="noopener">Mike Johnson</a> (R-LA) called the separation of church and state a &#8220;misnomer&#8221; when CNBC co-anchor Andrew Ross Sorkin attempted to corner him about kneeling and praying on the floor of Congress earlier this year.
&#8220;The separation of church and state is a misnomer —people misunderstand it,&#8221; Johnson said during an interview on &#8220;Squawk Box.&#8221;
&#8220;Of course, it comes from a phrase that was in a letter that [Thomas] Jefferson wrote — it&#8217;s not in the Constitution,&#8221; he added.
Johnson referred to Thomas Jefferson&#8217;s 1802 <a href="https://www.loc.gov/loc/lcib/9806/danpre.html" target="_blank" rel="noopener">letter</a> to the Danbury Baptist Association of Connecticut when Jefferson served as the third President of the United States.
&#8220;What he was explaining is they did not want the government to encroach upon the church, not that they didn&#8217;t want principles of faith to have influence on our public life is exactly the opposite,&#8221; Johnson said. &#8220;It&#8217;s exactly the opposite.&#8221;
He then referenced <a href="https://virginiahistory.org/learn/george-washingtons-farewell-address#:~:text=%E2%80%9COf%20all%20the%20dispositions%20and,men%20and%20citizens...." target="_blank" rel="noopener">George Washington&#8217;s Farewell Address</a>, delivered in 1796, which stated, &#8220;Of all the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports.&#8221;
Johnson also mentioned John Adams&#8217; <a href="https://www.johnadamsacademy.org/apps/pages/index.jsp?uREC_ID=2003858&amp;type=d&amp;pREC_ID=2094472#_ftn1" target="_blank" rel="noopener">letter</a> to the Massachusetts Militia in 1798, which read, &#8220;Our constitution is made only for a moral and religious people. It is wholly inadequate for the government of any other.&#8221;
&#8220;They knew that it would be important to maintain our system,&#8221; Johnson said. &#8220;And that&#8217;s why I think we need more of that &#8212; not an establishment of any national religion, but we need everybody&#8217;s vibrant expression of faith because it&#8217;s such an important part of who we are as a nation.&#8221;
Johnson <a href="https://www.dailywire.com/news/i-make-no-apologies-new-house-speaker-says-the-bible-is-his-worldview" target="_blank" rel="noopener">received</a> unanimous Republican support after three weeks of chaos — and three other nominees for the position — and was elected on October 25 to replace ousted House Speaker Kevin McCarthy (R-CA), becoming second in line to the presidency.
<a href="https://www.dailywire.com/news/black-friday-gift-guide" target="_blank" rel="noopener">CHECK OUT THE DAILY WIRE BLACK FRIDAY SHOPPING GUIDE</a>
During his first speech as speaker, Johnson told every other member of Congress that he believed God had called them all to use their gifts to serve the American people.
But just before the newly minted House Speaker secured the gavel, Rep. Greg Steube (R-FL) posted a photo of Johnson with a small cadre of House members praying for the Speaker&#8217;s race back in January.
In the CNBC interview, Johnson pointed to the First Amendment when asked about expressing his faith on the House floor after being sworn in.
&#8220;Faith — our deep religious heritage and tradition is a big part of what it means to be an American,&#8221; Johnson said. &#8220;When the founders set the system up, they wanted a vibrant expression of faith in the public square because they believed that a general moral consensus and virtue was necessary to maintain this grand experiment and self-governance.&#8221;
&#8220;So we created a government of, by, and for the people,&#8221; he added. &#8220;We don&#8217;t have a king in charge, we don&#8217;t have a middleman — so we&#8217;ve got to keep morality amongst us so that we have accountability.&#8221;
Johnson worked as a senior lawyer for the Alliance Defense Fund, focusing on religious freedom issues in schools, government, and other public spaces before he entered Congress.
His faith plays a significant role in his political decision-making — so much so that <a href="https://www.nytimes.com/2023/11/01/opinion/mike-johnson-christian-nationalism-speaker.html" target="_blank" rel="noopener">The New York Times</a> seethed over him becoming the first speaker of the House &#8220;who can be fairly described as a Christian nationalist.&#8221;
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Lots of misleading headlines. Take a look at what I actually said here: <a href="https://t.co/Vw3AHzoRvT">pic.twitter.com/Vw3AHzoRvT</a>
&mdash; Speaker Mike Johnson (@SpeakerJohnson) <a href="https://twitter.com/SpeakerJohnson/status/1724809472529633434?ref_src=twsrc%5Etfw">November 15, 2023</a></blockquote>
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Virginia Kruta contributed to this report.

House Elects Mike Johnson Of Louisiana As Speaker

CNBC Anchor Tries To Corner Mike Johnson On Church And State, Gets A History Lesson Instead

Congress

Freedom of Religion

Mike Johnson

U.S. House of Representatives

<a href="https://www.dailywire.com/topic/cnbc" target="_blank" rel="noopener">CNBC</a> anchor Hadley Gamble has reportedly left the network, just weeks after a sexual harassment complaint she filed led to the abrupt exit of former NBCUniversal CEO Jeff Shell.
Comcast, NBC&#8217;s parent company, released a statement confirming Gamble&#8217;s departure.
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CNBC says it is parting ways with <a href="https://twitter.com/_HadleyGamble?ref_src=twsrc%5Etfw">@_HadleyGamble</a>, the anchor/correspondent who filed a sexual harassment complaint that led to the firing of NBCU chief Jeff Shell. <a href="https://t.co/g5hRQnJt4k">pic.twitter.com/g5hRQnJt4k</a>
&mdash; Oliver Darcy (@oliverdarcy) <a href="https://twitter.com/oliverdarcy/status/1655997050813546514?ref_src=twsrc%5Etfw">May 9, 2023</a></blockquote>
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&#8220;Gamble has been a distinguished journalist for more than a decade for CNBC, undertaking highly visible and challenging assignments, and developing deep expertise in the Middle East and beyond. Her initiative and drive have secured valuable interviews with several world political leaders,&#8221; the statement read. &#8220;We wish her every success in her future endeavors.&#8221;
Gamble filed her complaint prior to Shell&#8217;s ouster, claiming that the two had been involved in an affair that began more than a decade earlier — after he had spent years in pursuit of a sexual relationship with her. She claimed that she had ultimately relented, agreeing to the relationship only because she was afraid her career would suffer if she continued to refuse him.
&#8220;It became clear to her that rebutting his advances would probably damage her career,&#8221; the complaint read.
According to a <a href="https://nypost.com/2023/05/09/hadley-gamble-is-out-at-cnbc-in-wake-of-sex-harassment-complaint/" target="_blank" rel="noopener">report</a> from the New York Post, Gamble only filed the complaint when she learned that her contract, which was set to expire, was going to be allowed to lapse without renewal.
Comcast announced <a href="https://www.dailywire.com/news/nbc-top-exec-booted-over-inappropriate-relationship-with-woman-in-the-company" target="_blank" rel="noopener">Shell&#8217;s exit</a> on April 23, according to a report published by Business Wire. &#8220;Comcast today announced that the Company and Jeff Shell, Chief Executive Officer of NBCUniversal, have mutually agreed that Mr. Shell will depart effective immediately following the Company’s investigation led by outside counsel into a complaint of inappropriate conduct.&#8221;
<a class="c-link" href="https://onelink.to/dwapp" target="_blank" rel="noopener noreferrer" data-stringify-link="https://onelink.to/dwapp" data-sk="tooltip_parent" aria-describedby="sk-tooltip-59442">CLICK HERE TO GET THE DAILY WIRE APP</a>
Shell also released a statement at the time, admitting to the relationship.
&#8220;Today is my last day as CEO of NBCUniversal. I had an inappropriate relationship with a woman in the company, which I deeply regret. I’m truly sorry I let my Comcast and NBCUniversal colleagues down, they are the most talented people in the business and the opportunity to work with them the last 19 years has been a privilege,&#8221; he said.

CNBC Launches New Middle East Headquarters In Abu Dhabi

CNBC Host Out Just Weeks After Her Complaint Led To NBC CEO’s Ouster

CNBC Host Out Just Weeks After Her Complaint Led To NBC CEO's Ouster

Legacy Media

Sexual Misconduct

U.S.

Former NBCUniversal CEO Jeff Shell was reportedly ousted from the company over the weekend after the company conducted an investigation into alleged sexual misconduct.
Attorney Suzanne McKie, a managing partner of Farore Law, said in a statement that the investigation was triggered by a complaint from her client, CNBC anchor Hadley Gamble.
&#8220;The investigation into Mr. Shell arose from a complaint by my client of sexual harassment and sex discrimination,&#8221; McKie <a href="https://www.wsj.com/articles/cnbc-anchor-alleged-nbcuniversal-jeff-shell-boss-sexually-harassed-her-prompting-his-exit-b7645496">said</a>. &#8220;Given these circumstances it is very disappointing that my client’s name has been released and her privacy violated.&#8221;
Comcast, NBC&#8217;s parent company, said in a Securities and Exchange Commission (SEC) document filed on Monday:
<blockquote>Following a complaint that Jeffrey Shell, CEO of NBCUniversal, engaged in inappropriate conduct with a female employee, including allegations of sexual harassment, Comcast Corporation (the “Company”) retained outside counsel to investigate the allegations. During the investigation, evidence was uncovered that corroborated the allegations. As a consequence, on April 23, 2023, the Company terminated Mr. Shell’s employment With Cause under his employment agreement, effective immediately.</blockquote>
Comcast had said in a statement over the weekend that the company and Shell had mutually agreed to part ways effective immediately.
“Comcast today announced that the Company and Jeff Shell, Chief Executive Officer of NBCUniversal, have mutually agreed that Mr. Shell will depart effective immediately following the Company’s investigation led by outside counsel into a complaint of inappropriate conduct,” the company said.
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NEWS: “Comcast today announced that the Company and Jeff Shell, Chief Executive Officer of NBCUniversal, have mutually agreed that Mr. Shell will depart effective immediately following the Company’s investigation led by outside counsel into a complaint of inappropriate conduct.”
&mdash; Dylan Byers (@DylanByers) <a href="https://twitter.com/DylanByers/status/1650218117912735744?ref_src=twsrc%5Etfw">April 23, 2023</a></blockquote>
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Shell said in his own <a href="https://www.dailywire.com/news/nbc-top-exec-booted-over-inappropriate-relationship-with-woman-in-the-company" target="_blank" rel="noopener">statement</a> over the weekend that his ouster came as the result of an inappropriate relationship that he had with a woman in the workplace.
“Today is my last day as CEO of NBCUniversal,&#8221; he said. &#8220;I had an inappropriate relationship with a woman in the company, which I deeply regret. I&#8217;m truly sorry I let my Comcast and NBCUniversal colleagues down, they are the most talented people in the business and the opportunity to work with them the last 19 years has been a privilege.”
Comcast president Mike Cavanagh released a joint statement with Comcast CEO Brian Roberts over Shell&#8217;s exit.
“We are disappointed to share this news with you,&#8221; the statement said. &#8220;We built this company on a culture of integrity. Nothing is more important than how we treat each other. You should count on your leaders to create a safe and respectful workplace. When our principles and policies are violated, we will always move quickly to take appropriate action, as we have done here.&#8221;

Ouster Of NBCUniversal CEO Jeff Shell Came After Allegations From A CNBC Anchor: Report

<a href="https://www.dailywire.com/topic/jay-leno" target="_blank" rel="noopener">Jay Leno&#8217;s</a> bad luck streak continues after news surfaced on Friday that his &#8220;Garage&#8221; reality show is on the chopping block at CNBC after eight years following reports of him crashing his <a href="https://www.dailywire.com/news/jay-leno-suffers-broken-bones-in-motorcycle-accident-months-after-getting-burned-in-garage-fire-cracks-jokes-about-it" target="_blank" rel="noopener">motorcycle and breaking multiple bones</a>.
A CNBC source shared that the 72-year-old&#8217;s reality show &#8220;Jay Leno&#8217;s Garage&#8221; has been canceled, bringing to an end the TV host&#8217;s 30-year run of having a program on one of NBCUniversal&#8217;s TV channels, according to <a href="https://www.hollywoodreporter.com/tv/tv-news/jay-leno-nbc-career-cnbc-cancels-jay-leno-garage-1235311065/" target="_blank" rel="noopener">The Hollywood Reporter</a>.
The reality show first debuted in 2014 and was initially a series only seen on the NBC website. Later, the series was picked up by CNBC and it has been part of the network&#8217;s primetime lineup since 2015.
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Jay Leno to NBC you later: CNBC to cancel Garage show, ending 30 years with NBCUniversal <a href="https://t.co/0OIcVw58xg">https://t.co/0OIcVw58xg</a>
&mdash; Washington Examiner (@dcexaminer) <a href="https://twitter.com/dcexaminer/status/1618986798125809664?ref_src=twsrc%5Etfw">January 27, 2023</a></blockquote>
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The reported cancellation of &#8220;Jay Leno&#8217;s Garage&#8221; comes amid a change of the primetime schedule at the network with reruns of reality shows &#8220;Shark Tank&#8221; and &#8220;Undercover Boss,&#8221; along with original business documentaries, being its focus.
Leno&#8217;s history with NBC spans several decades. He previously became the host of &#8220;The Tonight Show&#8221; in 1992 following legendary host Johnny Carson, who walked away from the show after 30 years.
In 2009, he started a primetime program called &#8220;The Jay Leno Show,” which he helmed until once again taking over the 11:30 p.m. spot on &#8220;The Tonight Show.&#8221; In 2014, he finally walked away from the job and handed it over to Jimmy Fallon.
Leno then became the host of his &#8220;Garage&#8221; reality show, where he <a href="https://www.thenewportbuzz.com/cnbc-cancels-jay-lenos-garage/39941" target="_blank" rel="noopener">interviewed</a> celebrities like Elon Musk, rapper Post Malone, President Joe Biden, and more as he showed off his enormous car collection.
In November 2022, <a href="https://www.dailywire.com/news/jay-leno-gives-fans-an-incredible-update-after-suffering-serious-burns-in-car-fire" target="_blank" rel="noopener">the comedian</a> made headlines after he suffered third-degree burns in an accident in his garage, as <a href="https://www.dailywire.com/news/jay-leno-reveals-treatments-hes-undergoing-after-suffering-significant-burns-in-car-fire" target="_blank" rel="noopener">previously reported</a>. On Friday, Leno cracked a joke about crashing his bike earlier this month.
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I was riding my motorcycle up in Lake Tahoe and I came around the corner and bam, I crashed into Jeremy Renner’s snowplow.
&mdash; Jay Leno (@jayleno) <a href="https://twitter.com/jayleno/status/1619054701269639168?ref_src=twsrc%5Etfw">January 27, 2023</a></blockquote>
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&#8220;I was riding my motorcycle up in Lake Tahoe and I came around the corner and bam, I crashed into Jeremy Renner&#8217;s snowplow,&#8221; Leno tweeted.
Related:<a href="https://www.dailywire.com/news/jay-leno-suffers-broken-bones-in-motorcycle-accident-months-after-getting-burned-in-garage-fire-cracks-jokes-about-it" target="_blank" rel="noopener"> Jay Leno Suffers Broken Bones In Motorcycle Accident Months After Getting Burned In Garage Fire, Cracks Jokes About It</a>

26th Annual White House Correspondents’ Weekend Garden Brunch

Jay Leno’s ‘Garage’ Reality Show On Chopping Block At CNBC After 8 Years: Report

Celebrities

Entertainment

Jay Leno

Reality TV

FTX founder Sam Bankman-Fried, 30, claimed during an interview on Wednesday when asked if he had ever lied while at the now-bankrupt company, that he, at times, acted as a &#8220;marketer&#8221; for FTX.
The company filed for <a href="https://www.dailywire.com/news/30-year-old-billionaire-loses-entire-fortune-overnight-as-his-bahamas-based-cryptocurrency-empire-implodes" target="_blank" rel="noopener">bankruptcy</a> earlier this month after customers discovered that firms controlled by Bankman-Fried and his associates were allegedly fraudulently intertwined, triggering a liquidity crisis as customers hurried to withdraw funds. A number of individual users and institutional clients still have as much as $8 billion remaining with the company.
&#8220;Were you truthful with us today?&#8221; CNBC’s Andrew Ross Sorkin asked SBF during an interview at the Dealbook Summit.
&#8220;I was as truthful as I, as, you know, I&#8217;m knowledgeable to be,&#8221; he responded. &#8220;There&#8217;s, there&#8217;s, there&#8217;s some things I wish I knew more about. But yes, I was.&#8221;
&#8220;Let me ask you this: do you agree that over time, you also lied?&#8221; Sorkin asked.
&#8220;Do I believe, do I agree that I lied?&#8221; SBF responded. &#8220;I don&#8217;t know of times when I lied, I think, look, there are certainly times when I was acting as a, um, as a representative, as a marketer for FTX.&#8221;
WATCH:
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Sorkin: &quot;Were you truthful with us today?&quot;
SBF: &quot;I was as truthful as I am knowledgable to be.&quot;
Sorkin: &quot;Over time, do you agree that you have lied?&quot;
SBF: &quot;There was times when I was acting a marketer for FTX.&quot; <a href="https://t.co/FKOC87I8e8">pic.twitter.com/FKOC87I8e8</a>
&mdash; Greg Price (@greg_price11) <a href="https://twitter.com/greg_price11/status/1598095165008547840?ref_src=twsrc%5Etfw">November 30, 2022</a></blockquote>
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Earlier in the interview, SBF claimed, “I didn’t ever try to commit fraud on anyone. I saw it as a thriving business and I was shocked by what happened this month.”
“What are your lawyers telling you right now?” Sorkin asked. “Are they suggesting it’s a good idea for you to be speaking?”
“No, they’re very much not,” he responded. “The time that I really knew there was a problem was November 6. When we looked at that, there was a potential serious problem.”
When asked if he was in the Bahamas because he believes that he can’t leave, SBF responded by claiming that he runs the company in the Bahamas and that he believes that organizations around the world might still “want” his help.
“How concerned are you about criminal liability at this point?” Sorkin asked.
“So, I don’t think that, I mean, obviously I don’t, I don’t personally think that I have, you know — but I think the real answer is it’s not, sounds weird to say but, but I think the real answer is that’s not what I’m focusing on,” SBF answered. “It’s, there’s gonna be a time and a place for me to sort of think about myself and my own future, but I don’t think this is it.”
“Like, right now, I mean, look, I’ve had a bad month,” SBF continued as the crowd erupted in laughter. “This has not been fun for me.”
Related: <a href="https://www.dailywire.com/news/mother-of-disgraced-crypto-billionaire-sam-bankman-fried-is-a-democratic-fundraiser-who-once-wrote-essay-blasting-personal-responsibility" target="_blank" rel="noopener">Mother Of Disgraced Crypto Billionaire Sam Bankman-Fried Is A Democratic Fundraiser Who Once Wrote Essay Blasting ‘Personal Responsibility’</a>

Key Speakers At IIF Annual Membership Meeting

Sam Bankman-Fried On Whether He Lied: ‘There Are Certainly Times When’ I Was ‘A Marketer For FTX’

Bitcoin

Business

Crime

Cryptocurrency

Sam Bankman-Fried

CNBC plans to drop anchor <a href="http://www.dailywire.com/topic/shepard-smith/" target="_blank" rel="noopener">Shepard Smith&#8217;s</a> evening news show, &#8220;The News with Shepard Smith,&#8221; after just two years.
Variety <a href="https://variety.com/2022/tv/news/shepard-smith-cnbc-cancel-tv-news-1235422135/" target="_blank" rel="noopener">reported</a> on Thursday that the veteran journalist — who anchored a mid-afternoon slot for years on <a href="https://dailywire.com/news/former-anchor-shep-smith-slams-fox-news-i-dont-know-how-some-people-sleep-at-night/" target="_blank" rel="noopener">Fox News</a> before moving to CNBC — was leaving the network, and his time slot would transition to a business-focused report more in line with other programming.
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CNBC canceling Shep Smith’s news show <a href="https://t.co/xsR5KQczuZ">https://t.co/xsR5KQczuZ</a> <a href="https://t.co/CjuamcBhGK">pic.twitter.com/CjuamcBhGK</a>
&mdash; The Hill (@thehill) <a href="https://twitter.com/thehill/status/1588213443194142721?ref_src=twsrc%5Etfw">November 3, 2022</a></blockquote>
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The move reportedly came at the behest of new network President KC Sullivan, the network&#8217;s former chief financial officer who took over for former chief Mark Hoffman in mid-August.
Sullivan explained the logic behind the move in a memo to staffers on Thursday, saying that under his leadership, CNBC would &#8220;prioritize and focus on our core strengths of business news and personal finance. This is key in our efforts to continue building on our position as the number one global business news brand and to connect with new audiences of all kinds interested in their financial future.&#8221;
&#8220;We need to further invest in business news content that provides our audiences actionable understanding of the complex developments in global markets and the implications on institutions, investors and individuals,&#8221; the memo continued. &#8220;During times of flux and uncertainty, our place in the lives of those we touch on-air, online and in person becomes even clearer, and more essential.&#8221;
Smith&#8217;s broader-range news show was part of an effort to keep business-focused audiences engaged after the closing bell rang — an effort that included talk shows featuring Donny Deutsch and Dennis Miller and competition shows like &#8220;Shark Tank&#8221; — but Sullivan has made it clear that he wants to bring the evening shows back into line with the daytime programming.
Still, the new network president had nothing but kind words for the former Fox News anchor. &#8220;The quality journalism Shep and his team delivered each weeknight was exemplary and not lost on us or our 7pm audience. &#8216;The News&#8217; increased CNBC’s 7pm viewership average and attracted the most affluent audience of any primetime cable news program,&#8221; Sullivan said. &#8220;At a time when misinformation and disinformation is rampant, &#8216;The News&#8217; succeeded in providing audiences with the clearest understanding of the facts. Decisions like these are not arrived at hastily or taken lightly. I believe this decision will ultimately help to strengthen our brand and the value we provide our audiences.&#8221;

The Tonight Show Starring Jimmy Fallon – Season 8

CNBC To Axe Shep Smith’s Primetime Newscast After Just Two Years

CNBC To Axe Shep Smith's Primetime Newscast After Just Two Year

Fox News

Shepard Smith

CNBC anchor <a href="http://www.dailywire.com/topic/jim-cramer/" target="_blank" rel="noopener">Jim Cramer</a> responded to the latest inflation numbers on Wednesday&#8217;s broadcast of &#8220;Squawk Box&#8221; — and he made it clear that President Joe Biden&#8217;s economy was not getting better.
Cramer reacted to the <a href="https://www.bls.gov/news.release/ppi.nr0.htm" target="_blank" rel="noopener">numbers released</a> Wednesday morning by the Bureau of Labor Statistics — which saw the Producer Price Index tick up 0.4% in September, after falling 0.2% in August.
&#8220;Prices for final demand less foods, energy, and trade services advanced 0.4 percent in September, the largest rise since increasing 0.5 percent in May,&#8221; the BLS report read. &#8220;For the 12 months ended in September, the index for final demand less foods, energy, and trade services moved up 5.6 percent. &#8230; Most of the September increase is attributable to a 0.6-percent rise in the index for final demand services less trade, transportation, and warehousing.&#8221;
An additional breakdown of the numbers from BLS showed that &#8220;a major factor in the September increase in prices&#8221; was the result of a 15.7% spike in the index for both &#8220;fresh and dry vegetables.&#8221; Other items that saw marked increases in September were pork, chicken eggs, heating oil for homes, and natural gas.
Cramer&#8217;s <a href="https://www.mediaite.com/tv/jim-cramer-suggests-latest-inflation-number-spells-doom-for-economy-theres-just-nothing-good-here/" target="_blank" rel="noopener">response to the numbers</a> was certainly not positive: &#8220;It was just plain bad. There’s absolutely nothing to say about it other than it was bad.&#8221;
&#8220;A lot of people were hoping this number’s going to be good, maybe accepting that tomorrow’s going to be bad,&#8221; Cramer continued, adding, &#8220;The only thing that’s actually even remotely positive about it is that there’s nothing that’s really shocking to the upside, it’s just kind of as bad as it’s been.&#8221;
&#8220;There’s no relief here,&#8221; he concluded. &#8220;There’s just nothing good here.&#8221;
The BLS data and Cramer&#8217;s response come just one day after CNN aired an interview with President Joe Biden, hosted by veteran anchor Jake Tapper, in which Biden <a href="https://dailywire.com/news/bidens-shaky-recession-prediction-no-i-dont-think-so-maybe-a-slight-one/" target="_blank" rel="noopener">appeared to insist</a> that the United States was not facing — or already in the midst of — a recession.
WATCH:
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Q: &quot;Should the American people prepare for a recession?&quot;
BIDEN: “No&#8230;I don’t think there will be a recession. If it is, it’ll be a very slight recession.&quot; 
We’re in a recession. <a href="https://t.co/Ie1k0fCI5k">pic.twitter.com/Ie1k0fCI5k</a>
&mdash; RNC Research (@RNCResearch) <a href="https://twitter.com/RNCResearch/status/1580008283326545920?ref_src=twsrc%5Etfw">October 12, 2022</a></blockquote>
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&#8220;Should the American people prepare for a recession?&#8221; Tapper asked.
&#8220;No,&#8221; Biden replied, saying that people predict recessions every six months and it &#8220;hasn&#8217;t happened yet.&#8221;
&#8220;I don’t think there will be a recession. If it is, it’ll be a very slight recession,&#8221; he said.
By the technical definition — which the White House has distanced itself from in recent weeks — the United States already <a href="https://dailywire.com/news/u-s-in-a-recession-after-second-straight-quarter-of-negative-growth/" target="_blank" rel="noopener">entered a recession</a> after posting negative GDP growth over two consecutive quarters.

UNWFPA’s NYSE Bell Ringing in Celebration of International Women’s Day

Jim Cramer Says ‘There’s Just Nothing Good Here’ About Biden Inflation Numbers

CNBC's Jim Cramer Says 'There's Just Nothing Good Here' About Biden Inflation Numbers

Inflation

Jim Cramer

A CNBC interview careened all the way off the rails on Monday morning, interrupted first by a dog barking and then by a boxer-clad man walking through the frame.
Karen Firestone, CEO and Chairman of<a href="https://aureus-asset.com/"> Aureus Asset Management</a> joined host Aaron Ross Sorkin on <a href="https://dailywire.com/news/cnbc-guest-the-economy-hasnt-added-one-single-job-since-2019/">CNBC&#8217;s</a> &#8220;Squawk Box&#8221; to discuss the state of the economy and how another COVID surge could potentially impact economic growth in the coming months. And while her predictions may turn out to be accurate, what was going on in the periphery of her interview stole the show.
WATCH:
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Just when you think the barking dogs are the weirdest part of this CNBC hit &#8230; you see what walks through the 0:35 second mark. <a href="https://t.co/gR2C5YRjrN">pic.twitter.com/gR2C5YRjrN</a>
&mdash; Virginia Kruta (@VAKruta) <a href="https://twitter.com/VAKruta/status/1549180219445186561?ref_src=twsrc%5Etfw">July 18, 2022</a></blockquote>
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Sorkin began to pose a question to Firestone when the sound of barking echoed from the house behind her.
&#8220;I see we another guest that&#8217;s joining us, and we appreciate that. It&#8217;s the dog days of summer, people talk about it that way,&#8221; Sorkin cracked.
&#8220;I’m sorry. I&#8217;m sorry,&#8221; Firestone replied.
&#8220;Don’t be sorry. You know, we love this. It adds to the — sort of — this is a live show, that’s what we enjoy,&#8221; Sorkin added, as Firestone continued to apologize. &#8220;But help us with this. Where are we now versus where are we in the fall I don’t know if it’s the conventional wisdom or the prevailing wisdom? But the dogs seem to think that the dog days are going to get a little more exciting, but not in a good way come September.&#8221;
While Sorkin was talking, a man dressed only in a pair of boxer shorts shuffled through the room, walking straight through the frame behind Firestone.
&#8220;I think she’s excited,&#8221; Firestone said, referring to the dog.
&#8220;She’s excited about the markets currently? I like that,&#8221; Sorkin agreed.
Firestone appeared to recover quickly, joking that her dog watched &#8220;Squawk Box&#8221; on a regular basis and was very excited about the markets.
She went on to say that a lot could depend on whether or not another <a href="https://dailywire.com/news/with-omicron-variant-of-covid-reinfection-is-common-and-not-painless/">COVID surge</a> triggered another wave of lockdowns or other mitigation measures that could impact multiple economic sectors. The other major issue she mentioned was <a href="https://dailywire.com/news/you-dont-use-these-tools-jake-tapper-corners-biden-econ-adviser-for-blowing-smoke-about-inflation/">inflation</a>, saying that it would be very difficult for the markets to do well into the fall months if inflation continued to rage out of control.
&nbsp;

Worried Dog in Car, Nervous Dog in Car

Barking Dog Threatens To Derail Live Interview — And Then Things Get Really Weird

CNBC Interview Interrupted By Dog, Then Boxer-Clad Man

American <a href="https://www.dailywire.com/topic/economy">executives</a> overwhelmingly believe that a <a href="https://www.dailywire.com/topic/recession">recession</a> will strike in early 2023, <a href="https://www.cnbc.com/2022/06/09/recession-will-hit-in-first-half-2023-the-dow-is-headed-lower-cfos.html">according</a> to a new CNBC survey of chief financial officers released Thursday.
The United States economy <a href="https://www.bea.gov/sites/default/files/2022-05/gdp1q22_2nd.pdf">shrank</a> at a 1.5% annualized rate in the first quarter of 2022, with two consecutive quarters of negative growth constituting recession territory. According to CNBC’s most recent CFO Council Survey, executives are generally pessimistic about economic futures.
Most respondents — 68% — believe a recession will occur in the first half of 2023. “No CFO forecast a recession any later than the second half of next year, and no CFO thinks the economy will avoid a recession,” CNBC said of the 22 survey respondents.
More than 40% of CFOs believe inflation — which is currently <a href="https://www.politico.com/news/2022/05/11/inflation-april-price-increase-peak-00031696#:~:text=Inflation%20slowed%20in%20April%20after,the%20Labor%20Department%20said%20Wednesday.">near</a> four-decade highs of 8.3% — is the main external risk factor for their business. Meanwhile, 23% point to Federal Reserve policy, and 14% point to the war in Ukraine.
The Fed <a href="https://www.dailywire.com/news/the-fed-jacks-key-rate-up-half-point-as-inflation-surges">hiked rates</a> by 0.5% last month — the largest rate increase since May 2000 — in an attempt to curb rising price levels. The move followed a 0.25% rate hike from near-zero levels three months ago. As employment numbers remain robust, the central bank likely interprets a strong labor market as a sign that officials should forge ahead with their plan to raise rates throughout the year.
In terms of stock market futures, 77% of CFOs predict that the Dow Jones Industrial Average will plummet to 30,000 — a more than 9% drop from its current level — before reaching a new high. Nevertheless, 55% of respondents said that “energy will show the most growth among all sectors of the economy over the next six months,” according to CNBC.
Indeed, the Nasdaq — a technology-heavy stock index — has endured losses for most of the year, at one point <a href="https://www.dailywire.com/news/tech-stocks-see-worst-losing-streak-since-dot-com-bubble">enduring</a> its worst selloff since the dot-com bubble in 2001. Silicon Valley behemoths such as Microsoft and Tesla are <a href="https://www.dailywire.com/news/recession-fears-lead-big-tech-companies-to-pause-hiring-cut-jobs">pausing</a> new hires or weighing plans to dismiss portions of their staff. The CFOs polled by CNBC, however, broadly intend to increase rather than decrease headcount — a 54% to 18% margin.
The generally ominous outlook from American financial executives comes as multiple high-profile business leaders also warn of a looming economic downturn.
“You know, I said there’s storm clouds but I’m going to change it… it’s a hurricane,” JPMorgan Chase CEO Jamie Dimon <a href="https://www.dailywire.com/news/top-banker-brace-yourself-for-looming-economic-hurricane">said</a> last week, adding that no one knows if the hurricane is “a minor one or Superstorm Sandy.” Exhorting other financial conference attendees to “brace yourself,” he remarked that his investment bank is “going to be very conservative with our balance sheet.”
Likewise, Tesla CEO Elon Musk <a href="https://www.dailywire.com/news/elon-musk-has-a-super-bad-feeling-about-the-economy-wants-a-massive-layoff-at-tesla">told</a> executives in an email that he has a “super bad feeling” about the economy. President Joe Biden <a href="https://www.dailywire.com/news/biden-responds-to-musks-super-bad-forecast-for-u-s-economy-lots-of-luck-on-his-trip-to-the-moon">responded</a> to the top entrepreneur’s sentiment by pointing to job growth at unionized American automakers and jabbed at Musk, “lots of luck on his trip to the Moon.”
Growth prospects worldwide are also expected to be lackluster. Earlier this week, the World Bank <a href="https://www.dailywire.com/news/sharpest-slowdown-in-80-years-world-bank-releases-ominous-news-about-recession-risk">cut</a> its global growth forecasts for 2022 and warned of the “sharpest slowdown in 80 years.” In January, the international financial institution forecasted 4.1% economic growth for this year — yet in light of elevated inflation, lockdowns in China, the Russian invasion of Ukraine, and other phenomena, the <a href="https://www.worldbank.org/en/news/press-release/2022/06/07/stagflation-risk-rises-amid-sharp-slowdown-in-growth-energy-markets">forecast</a> was revised to 2.9%.
A previous version of this article incorrectly stated that 77% of respondents believe a recession will occur in the first half of 2023. It should have stated 68%.

COVID-19 Empty Target Shelves

Every Single Business Leader Surveyed In New Poll Thinks A Recession Is Coming 

Most American CFOs Predict A Recession Within One Year 

Economics

Recession

Billionaire entrepreneur Elon Musk may be set to include (temporary) Twitter CEO to his list of titles once his deal goes through and he becomes the owner of the social media platform.
According to a <a href="https://www.cnbc.com/2022/05/05/elon-musk-expected-to-serve-as-temporary-twitter-ceo-after-deal-closes.html">report</a> from CNBC, &#8220;Elon Musk is expected to serve as a temporary CEO of Twitter for a few months after he completes his $44 billion takeover of the social media company, sources told CNBC’s David Faber.&#8221;
&#8220;Elon Musk is planning to take over as temporary CEO of Twitter after he finalizes the acquisition. Legend,&#8221; @APompliano <a href="https://twitter.com/APompliano/status/1522240024145768448">tweeted</a>.
Radio host Clay Travis added, &#8220;Elon Musk will be Twitter’s acting CEO when he takes over in a few months. The stock is up nearly $2 in an awful market today on the news of this and additional funding partners.&#8221;
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Elon Musk will be Twitter’s acting CEO when he takes over in a few months. The stock is up nearly $2 in an awful market today on the news of this and additional funding partners. <a href="https://t.co/QJ9SSHXUnq">https://t.co/QJ9SSHXUnq</a>
&mdash; Clay Travis (@ClayTravis) <a href="https://twitter.com/ClayTravis/status/1522228713504612354?ref_src=twsrc%5Etfw">May 5, 2022</a></blockquote>
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Following the news that Musk had secured a deal to purchase Twitter, the future of the platform was <a href="https://www.cnbc.com/2022/04/25/twitter-ceo-tells-employees-company-is-in-the-dark-over-future-under-musk.html">called into question</a> by a number of people — including relatively new CEO Parag Agrawal.
According to Reuters, Musk already has a new CEO in mind once the deal is closed.
&#8220;Musk has also lined a up a new chief executive for Twitter, one of the sources added, declining to reveal the identity of that person. He told Twitter&#8217;s chairman Bret Taylor earlier this month that he does not have confidence in the San Francisco-based company&#8217;s management,&#8221; Reuters reported in late April. &#8220;Parag Agrawal, who was named Twitter&#8217;s chief executive in November, is expected to remain in his role until the sale of the company to Musk is completed.&#8221;
Also according to CNBC, Musk has secured another $7.14 billion in commitments from a number of hand-picked investors — &#8220;Commitments range from $1 billion from Oracle co-founder Larry Ellison to $5 million from Honeycomb Asset Management, which invested in SpaceX&#8221; — and Musk is talking to former Twitter CEO Jack Dorsey about investing as well.
&#8220;Twitter co-founder Jack Dorsey may back it, and Musk is talking to him about the possibility of contributing shares immediately or before the closing of the merger,&#8221; CNBC reported.
Musk has been very vocal about his <a href="https://dailywire.com/news/im-on-the-warpath-elon-musk-reveals-big-plans-for-twitter/">plans for Twitter</a>, saying that he wanted the platform to first and foremost be committed to supporting free speech and the most &#8220;broadly inclusive&#8221; forum possible.
Speaking from the Met Gala red carpet on Monday, Musk also noted his commitment to ridding the site of &#8220;bots.&#8221;
&#8220;I’ve also vowed this publicly that we have to get rid of the bots, trolls, scams, and everything. That’s obviously diminishing the user experience and we don’t want people to get tricked out of their money and that kind of thing,” Musk said. “I’m on the warpath! If somebody is operating a bot and troll army then I’m definitely their enemy!&#8221;

The 2022 Met Gala Celebrating “In America: An Anthology of Fashion” – Arrivals

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