Congress and the Federal Reserve will have more impact on what happens to the economy and markets than the pandemic, according to Goldman Sachs CEO David Solomon, who joins Squawk Box exclusively from the bank’s headquarters in Manhattan. With support from both starting to fade in the days ahead, Solomon says investors should take heed and plan accordingly. He also discussed China, recent market uncertainty, cryptocurrencies, and why he thinks inflation could run ‘above trend’ for a period of time. British drugmaker GlaxoSmithKline says new data from early stage studies showed its antibody-based Covid therapy was effective against all 37 identified mutations of omicron. Plus, Tesla CEO Elon Musk says “it might be better” if President Joe Biden’s $1.75 trillion social spending plan, which includes incentives to buy EVs, doesn’t become law. The bill has cleared the House but not the Senate. Of course, Tesla has been helped by government subsidies.
In this episode:
David Solomon, @DavidSolomon
Joe Kernen, @JoeSquawk
Becky Quick, @BeckyQuick
Andrew Ross Sorkin, @andrewrsorkin
Katie Kramer, @Kramer_Katie