Lipstick, Loans, & Jay Powell: More Pain Ahead 8/26/22

At this year’s Jackson Hole meeting Federal Reserve Chair Jay Powell has assured the U.S. that the central bank will continue hiking interest rates to ease inflation, even if it prompts an economic slowdown. Jason Furman, former chair of President Obama’s Council of Economic Advisors and a speaker at that same Jackson Hole meeting, discusses the various players working to lower inflation: the Fed, the Biden Administration, and Congress. Furman and Steve Liesman consider the labor market and the student loan forgiveness plan that’s concerned many investors. Next week kicks off one of New York’s biggest sporting events, the US Open. USTA CEO Lew Sherr discusses the players hitting the tennis court and the ones sitting out. Plus, CNBC’s Courtney Reagan reports on the “lipstick indicator,” the metaverse is getting a few updates from Williams Sonoma and from Mark Zuckerberg. In this episode: Jason Furman, @jasonfurman Lew Sherr, @usta Courtney Reagan, @CourtReagan Steve Liesman, @SteveLiesman Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Cameron Costa, @CameronCostaNY