Capt. Tajer: Newark Airport is the 'earthquake epicenter' of infrastructure and staffing failure
Captain Dennis Tajer, Allied Pilots Association spokesperson, joins CNBC's 'Power Lunch' to discuss the recent turmoil at Newark Airport.
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CNBC
20 minutes ago
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Watch CNBC's full interview with Wells Fargo CEO Charles Scharf
Wells Fargo CEO Charles Scharf joins CNBC's 'Squawk on the Street' to discuss the San Francisco-based lender's response to the Federal Reserve lifting the $1.9 trillion asset cap imposed in 2018, the company's growth strategy, and more.
CNBC
20 minutes ago
- CNBC
Sen. Ron Johnson rips into 'immoral' GOP spending bill: 'I can't accept it'
Republican Sen. Ron Johnson on Wednesday blasted President Donald Trump's "one big, beautiful bill" as "immoral" and "grotesque," and reiterated that he will vote against it unless his GOP colleagues make major changes. "This is immoral, what us old farts doing to our young people," Johnson said on CNBC's "Squawk Box" after sounding alarms that the massive tax-and-spending-cut bill would add trillions of dollars to national deficits. "This is grotesque, what we're doing," Johnson said. "We need to own up to that. This is our moment." "I can't accept the scenario, I can't accept it, so I won't vote for it, unless we are serious about fixing it," he continued. Johnson has been among the Senate's loudest GOP critics of the budget bill that narrowly passed the House last month. Johnson and other fiscal hawks have taken aim over its impact on the nation's debt. The nonpartisan Congressional Budget Office estimated later Wednesday that the bill would add $2.4 trillion to the national debt over the next decade. Johnson has proposed splitting the bill into two parts, though Trump insists on passing his agenda in a single package. "The president and Senate leadership has to understand that we're serious now," Johnson said of himself and the handful of other GOP senators whose opposition to the bill could imperil its chances. "They all say, 'Oh, we can pressure these guys.' No, you can't." Republicans hold a narrow 53-47 majority in the Senate, so they can only afford to lose a handful of votes to get the bill passed in a party-line vote. "Let's discuss the numbers, and let's focus on our children and grandchildren, whose futures are being mortgaged, their prospects are being diminished by what we are doing to them," Johnson said. Johnson's comments came one day after Elon Musk ripped into the spending bill, calling it a "disgusting abomination" that will lead to exploding deficits. The White House brushed aside Musk's comments. Johnson said that Musk's criticisms bolster the case against the bill. "He's in the inside, he showed ... President Trump how to do this, you know, contract by contract, line by line," Johnson said of Musk. "We have to do that." Johnson said that his campaign against the bill in its current form is not a "long shot," because he thinks there are "enough" Republican senators will will vote against the bill. "We want to see [Trump] succeed, but again, my loyalty is to our kids and grandkids," he said. "So there's enough of us who have that attitude that very respectfully we just have say, 'Mr. President, I'm sorry, 'one, big, beautiful bill' was not the best idea," he added.
The Hill
an hour ago
- The Hill
Warren tussles with CNBC host over Wells Fargo, Fed
Sen. Elizabeth Warren (D-Mass.) and a CNBC anchor sparred Wednesday over the Federal Reserve's decision to scrap an unprecedented penalty on Wells Fargo. In an interview with CNBC's Sara Eisen, Warren blasted the Fed for lifting the asset cap it imposed on Wells Fargo in 2018 and urged the central bank to release its report on Wells' conduct since then. The Fed in 2018 banned Wells Fargo from growing its assets beyond $1.95 trillion in response to a series of sales scandals across several divisions of the bank. Along with the asset cap — the first of its kind — Wells was also fined billions of dollars by federal and state agencies. Warren said Wednesday the Fed should release its unredacted report to the Senate Banking Committee, for which she serves as the top Democrat, so the panel could decide how much Wells has truly done to get right with the law. When Eisen responded that the report may be 'hard to release' to Congress given the extensive confidential information included, Warren waved off those concerns. 'We have a great deal of experience in dealing with confidential information and not leaking it. We've done it before. We can certainly do our oversight responsibilities,' Warren said, adding that she wanted to see five years of the Fed's bank examination reports on Wells Fargo. 'I want to see how the Fed made the decision it made, given that Wells Fargo continues to break the law.' Eisen responded that critics of Wells Fargo would likely respect the support of the move from Federal Reserve Governor Michael Barr, a Biden appointee who backs tougher rules on banks and served as the Fed's vice chair of supervision from 2022 to 2025. She also recounted several steps Wells Fargo took to comply with the Fed asset cap, such as selling off several lines of business, spending $2 billion a year on new risk controls and overhauling their management team. 'It's not like they were just marching in place waiting for this,' Eisen said. Warren shot back that while Eisen was focused on 'activities,' the senator is focused on if Wells Fargo 'stopped breaking the law.' She also said that each member of the Fed board — which voted unanimously to lift the penalty — should be ashamed. 'I want to be clear. Every single one of them should be embarrassed, whether they're Democratic appointees or Republican appointees, and that's why I want to see the bank examination reports,' Warren said.
