Cooling Inflation, Kevin McCarthy, & a Hot Dog Dispute 6/12/24

Steve Ballmer, former Microsoft CEO and LA Clippers Chairman founded the data-driven not-for-profit USAFacts. He’s ready to deliver his economic data to Congress and push for transparency in government. Former Republican Speaker of the House Kevin McCarthy is out of his seat but not out of politics. The former lawmaker discusses the 2024 race and explains why this time, the election is more about President Biden than it is about former President Trump. Good economic news, from the Labor Department: May’s CPI data shows that inflation could be loosening its hold on the US economy. CNBC’s Steve Liesman considers the implications for the Federal Reserve’s interest rate strategy. A flurry of headlines have emerged from the Elon Musk universe, including Musk’s dropped lawsuit against OpenAI, hidden likes on X, and personal relationships at SpaceX. Plus, competitive eater Joey Chestnut is between a hot dog and an Impossible hot dog…and fans of Nathan’s hot dog eating contest will miss out on the reigning champion this year. Steve Ballmer - 14:47 Kevin McCarthy - 28:21 In this episode: Kevin McCarthy, @SpeakerMcCarthy Steve Liesman, @steveliesman Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie