Alan Greenspan’s Legacy: Mohamed El-Erian & Walter Isaacson 6/22/26

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Bring in show music, please.

**Katie Kramer** (0:59)
Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod.
The financial world remembers a giant of American economics. Alan Greenspan has died at age 100 Chairman of the Federal Reserve reappointed time and again. Greenspan's legacy is enormous. Mohamed El-Erian joins us.

**Mohamed El-Erian** (1:18)
Think of it, he served 20 years, five terms, four administration.

**Katie Kramer** (1:22)
His career in jazz and economics and the mark he left on American business.

**Mohamed El-Erian** (1:28)
He was the Fed at its best because he had that command of details and was willing to look forward and say, you know what, I'm going to let this economy run. And he unleashed an enormous productivity gain.

**Katie Kramer** (1:40)
Then Walter Isaacson on Elon Musk over a week out from SpaceX's IPO. What's next for the world's first trillionaire?

**Walter Isaacson** (1:49)
I think there will be a Tesla-SpaceX merger, because it makes sense. They're both basically companies making real world things that are driven by AI.

**Katie Kramer** (2:01)
Plus, Toy Story 5 has notched the biggest box office weekend of the year. UK Prime Minister Keir Starmer is stepping down and more talks between the US and Iran, led by Vice President Vance in Switzerland.

**Joe Kernen** (2:13)
It's just tough to sift through all the rhetoric from both sides to find out where things really are.

**Eamon Javers** (2:18)
There's an old saying in Diplomacy, Joe, that talking is better than shooting.

**Katie Kramer** (2:22)
It is Monday, June 22nd. Squawk Pod begins right now.

**SPEAKER_8** (2:27)
Stand Becky by in three, two, one.

**Becky Quick** (2:29)
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, and yes, it was a beautiful sunrise this morning on the way in, and all I could think about is the days are getting shorter from here. Back to the dreary, dreary, dark days of winter are already on my mind. Because this is what you think when you get up early in the morning, right? All of you who are up early with us in this part of the world know exactly what we're talking about.

**Joe Kernen** (3:03)
Yep. It is a beautiful, beautiful weekend. It's a good Father's Day.

**Becky Quick** (3:08)
Well, happy Father's Day.

**Joe Kernen** (3:10)
Thank you. You, too.

**Becky Quick** (3:11)
Happy Father's Day.

**Joe Kernen** (3:12)
Well, Matt.

**Becky Quick** (3:12)
Yeah, too Matt. Yeah. It's beautiful, beautiful days of summer. And for those of us who have been doing this for a while, you think, well, please let this last.

**Joe Kernen** (3:22)
Blake got home. Yeah. It's really nice. Yeah.

**Becky Quick** (3:25)
Good. I'm glad you got to see all of your children.

**Joe Kernen** (3:26)
Blake's corgi.

**Becky Quick** (3:28)
And your grandpuppies.

**Joe Kernen** (3:29)
Yeah. And the grandpuppy. That's right. Some signs of progress at US-Iran at the talks in Switzerland, though President Trump threatened the country again over the long weekend and said that the US might impose its own tolls on the ships in the Strait of Hormuz.
And CNBC's Eamon Javers joins us now with the latest. Good morning, Eamon.

**Eamon Javers** (3:50)
Yeah. Good morning to you, Joe. It was a tense weekend of negotiations between the United States and Iran over the weekend, along with delegations from Qatar and Pakistan in Lucerne, Switzerland this weekend. Vice President Vance led the US delegation on site as President Trump huddled with advisors at Camp David through the weekend. President Trump at various points Sunday threatened to relaunch hostilities against the Iranians, telling Fox News that if the Iranians don't cut a deal, he will blow the S out of them and also threatening to take over the Strait of Hormuz by military force and charge tolls on that waterway, which is something that the US military was unable to do during the war. Now, on social media, the president said Sunday, Iran must immediately stop their highly paid proxies in Lebanon from causing trouble. If they don't, we'll hit Iran very hard again, just like we did last week, only harder.