Google’s AI Reshuffle, Calls to the Fed, A Great Wealth Transfer 08/06/26

**SPEAKER_1** (0:00)
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**SPEAKER_2** (0:27)
Courage, I learned it from my adoptive mom.

**Lizetta Rainey Braxton** (0:30)
Hold my hand.

**SPEAKER_4** (0:31)
You hold my hand.

**Lizetta Rainey Braxton** (0:33)
Learn about adopting a team from foster care at adoptuskids.org.

**Katie Kramer** (0:37)
You can't imagine the reward.

**SPEAKER_2** (0:38)
Brought to you by AdoptUSKids, the US.

**Sharon Epperson** (0:40)
Department of Health and Human Services and the Ad Council.

**Andrew Ross Sorkin** (0:43)
Bring in show music, please.

**Katie Kramer** (0:47)
Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod, we are here again. Inflation versus the economy. What year is it? Former Federal Reserve Vice Chair, Roger Ferguson, on the policy debates that will drive the rest of 2026

**Roger Ferguson** (1:03)
I don't think we get three, but I am pending a possibility of two this time, or this year, or early next year. The inflation pressures are not going to subside quickly enough.

**Katie Kramer** (1:13)
Aging baby boomers and rising house prices contributing to an unusual personal finance quandary.

**Joe Kernen** (1:19)
More than $120 trillion. What? With a T?

**Katie Kramer** (1:23)
What to do if you are set to inherit a house, Sharon Epperson, with news you can use?

**Sharon Epperson** (1:28)
Who's going to manage the house while you still own it? Once, if you do decide to sell it, how is that going to be distributed?

**Katie Kramer** (1:35)
Plus, the rest of today's news that got us squawking, Jamie Dimon on the markets, SpaceX investors' payday, and fears of a US weapons shortage.

**Andrew Ross Sorkin** (1:44)
The whole conversation about lowering the total defense budget through all this sort of new technology has gone out the window.

**Katie Kramer** (1:52)
It is Thursday, August 6th, 2026 Squawk Pod begins right now.

**Andrew Ross Sorkin** (1:58)
Stand under five, three, two, one. Up and under.
Good morning and welcome to Squawk Box. Right here on CNBC. We're live at the NASDAQ market site in Times Square. I'm Andrew Ross Sorkin, along with Joe Kernen. Becky is off. So it is just the boys. Back from Aspen.

**Joe Kernen** (2:16)
When did you get back?

**Andrew Ross Sorkin** (2:17)
I got back last night.

**Joe Kernen** (2:18)
I got back last night. You had already, I don't know, indicated that the Oar Ring is not great?

**Andrew Ross Sorkin** (2:24)
No, I was just indicating I was traveling all day.

**Joe Kernen** (2:27)
You're tired. You need a break. So this is going to be my problem.

**Andrew Ross Sorkin** (2:31)
No, I wasn't complaining about it. I was just suggesting that next time I need to be flying private.

**Joe Kernen** (2:39)
You were in Aspen and I'm sure you weren't back in the middle seat.

**Andrew Ross Sorkin** (2:42)
I was flying United. They did a lovely job. By the way, a note about United.

**Joe Kernen** (2:49)
Yes, tell me.

**Andrew Ross Sorkin** (2:49)
I actually think this is a big deal.

**Joe Kernen** (2:51)
You were flying United with whom?

**Andrew Ross Sorkin** (2:53)
I was flying United Airlines.

**Joe Kernen** (2:54)
Oh, just the airline. Okay.

**Andrew Ross Sorkin** (2:56)
They now have Starlink.

**Joe Kernen** (2:58)
I know that.

**Andrew Ross Sorkin** (2:59)
I know that. But I think this is going to be huge for them.

**Joe Kernen** (3:01)
Seamless, isn't it?

**Andrew Ross Sorkin** (3:02)
And mine was only on the short flight, not the long flight back from Aspen to Denver.

**Joe Kernen** (3:08)
You can't get there from here.

**Andrew Ross Sorkin** (3:09)
But amazing.

**Joe Kernen** (3:11)
That should put you in a good mood.

**Andrew Ross Sorkin** (3:12)
But my point is I wonder what it's going to mean to the other airlines for the next couple of years. I think if you were traveling, for example, from New York to LA for the next couple of years, if you had a choice between Starlink or no Starlink, you'd choose Starlink.

**Joe Kernen** (3:23)
So what do you say that you would not sell your SpaceX shares in it?

**Andrew Ross Sorkin** (3:28)
This probably, I don't know if it's a commentary on SpaceX shares because that's a whole different valuation. I'm thinking more about the airlines themselves in this particular moment.

**Joe Kernen** (3:36)