AI Czar Jay Clayton & John Legend Loves Dogs 10/16/26

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SPEAKER_3 (1:01)

Bring in show music, please.

Katie Kramer (1:04)

Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod. Wrapping up a volatile week for the markets, inflation fears, are we spending too much building up AI?

Joe Kernen (1:15)

Whenever you think you know what's going on in any of these markets, the markets are always ready to throw you for a loop. You don't know anything.

Katie Kramer (1:24)

Fed Chair Kevin Warsh speaks, sort of, at a conference offering few clues for the next rate signal, are Steve Liesman with the latest.

Steve Liesman (1:31)

Warsh is trying not to give the market anything to trade on, but they're still trading on what he's saying.

Katie Kramer (1:39)

New AIs are Jay Clayton, also Director of National Intelligence, fresh off the White House's first meeting to set a standard for AI development.

Jay Clayton (1:47)

We do believe that super intelligence will enhance, the American worker will make more opportunities for the American worker.

Katie Kramer (1:55)

Plus, John Legend, the EGOT winner, musician, entrepreneur with a dog food brand for those who treat their pets like themselves.

John Legend (2:02)

This market is a really important market because so many families out there are starting with dogs first.

Katie Kramer (2:09)

We're dog gone crazy today.

Becky Quick (2:11)

You're a good girl.

Katie Kramer (2:13)

It's Friday, really, October 16th, 2026 Squawk Pod begins right now.

Becky Quick (2:19)

Stand Becky by in three, two, one, cue, please.

Good morning, everybody. Welcome to Squawk Box right here on CNBC. We are live from the NASDAQ market site in Times Square. I'm Becky Quick, along with Joe Kernen. Andrew is off today. Here we go. It's a Thursday. What a week it has been. Friday.

SPEAKER_3 (2:40)

I've been wrong all week about what day it is.

Becky Quick (2:42)

It's Friday, we're finally here.

This was the week, CPI, PPI. I'm wondering what's going to happen next with the Fed, and that all leads to what we're just hearing from Kevin Warsh.

Joe Kernen (2:51)

There's a real sea change in that.

Becky Quick (2:54)

Where were we? 535?

Joe Kernen (2:55)

Oil was correlated with oil.

Becky Quick (2:57)

Yeah, and oil and treasury is completely split now.

Joe Kernen (3:00)

Because of AI and the bonds, some of the bonds that people are watching for AI.

Becky Quick (3:06)

Yeah, for some of the companies in particular.

CoreWeave is the big one. I think it was looking at above 16%. 15%, 16% now, yield for those bonds.

Joe Kernen (3:15)

I saw 503 I was, I mean, when...

Becky Quick (3:18)

503 in the tenure. Yeah.

Joe Kernen (3:19)

On the tenure, I was thinking, wow, I think if we got a forehand, but that is, I mean, whenever you think you know what's going on in any of these markets, the markets are always ready to throw you for a...

Becky Quick (3:30)

And CoreWeave, it's not even the stock, it's the credit default swaps that people are watching so closely with them too.

Joe Kernen (3:36)

And then you add this on, but like I said, he doesn't give you a lot of clues. Fed Chairman Kevin Warsh speaking overnight at the IMF meeting in Bangkok, senior economics reporter Steve Liesman has the details.

Not quite Greenspan yet, but it kind of aspires to be Greenspeak, right? In terms of could mean this, could mean that, hang on every word.

Steve Liesman (4:04)

It's an interesting comparison, Joe. Greenspan used to talk a lot and sort of talk about both sides.