Jackson Hole Scaries & the CCP’s Covid Price 8/23/22

Markets suffered the worst day since June as investor confidence wavers ahead of the Federal Reserve’s annual meeting in Jackson Hole. Joe Kernen and Andrew Ross Sorkin break down the rough trading day and Wall Street’s expectations for the rest of this week; Morgan Stanley’s Chief Investment Officer Mike Wilson offers some perspective on the likelihood of a full-blown recession, as well as earnings reports for the rest of 2022. In China, the central bank has cut rates again as the country’s persistent Covid lockdowns take a toll on its economy. International policy analyst Dewardric McNeal discusses the balance between public health and economic growth. Also in China, the CCP is facing a political reshuffle as its 20th national congress approaches; CNBC’s Eunice Yoon offers some insight on how domestic politics are affecting international influences–like ‘Minions’--in China. Plus, Elon Musk is asking former Twitter CEO Jack Dorsey for help in getting out of buying the platform, and “House of the Dragon” has given HBO its biggest premiere ever. In this episode: Eunice Yoon, @onlyyoontv Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer: @Kramer_Katie