Squawking the 'Tepper Taper'...and Faldo on Scotch
From the market's Fed flip out to what pro golfer Nick Faldo is investing in now and all the "Squawkward Moments" in between, here's "Talking Squawk," your behind-the-scenes look at the week that was and the week to come with the cast and crew of CNBC's "Squawk Box."
Tepper Likes the Taper
Everyone on Wall Street (and even Main Street) seemed to have an opinion on when the Federal Reserve will begin to scale back its $85-billion-a-month bond-buying program, and what the impact will be on the markets and the greater economy.
Hedge fund titan David Tepper—who called for the taper on Squawk last month—emailed us Friday: "Bottom line when the dust settles only one place to be STOCKS."
(Read More: Tepper Likes the Taper, Says Stocks Are Still Strong)
"All the concern in the markets is because the fed sees the economy stronger in the future," the Appaloosa founder Tepper wrote.
He also wrote: "A 10 yr bond at 2.4 or even at 3pct if its because of strength is ultimately healthy."
Fed Chairman Ben Bernanke finally started indulging us on Wednesday, offering the first hints that the "great tapering" might begin later this year. The stock market surely didn't appreciate the indulgence, while bond market rates rose. Bernanke was playing the part of the parents who finally pulled the plug on their 20-something college grad still living at home. They've been threatening it for years. Everybody knew the day would come. Still, it was a shock.
But putting aside the daily stock and bond market gyrations for a second, what's it all really mean for the long haul? The global economy? The price of your home? Your chances of landing a good job?
We lined up three guys who should know—starting with John Stumpf, chairman and CEO of Wells Fargo. He said that for the sake of savers, interest rates need to return to the historically normal levels that existed before the Fed started its accommodative monetary policy to help the economy pull out of the Great Recession (story and video).
Then, we added two former Fed presidents to the conversation: Al Broaddus, (Richmond) and Gary Stern (Minneapolis) who said they were encouraged but not surprised by Bernanke's candor (video).
Taper or Tapir?
We work in a weird industry were we often have to make awkward transitions and pivot between two news stories that have no real connection. But that's why we have Squawk co-host Joe Kernen. He was born for this stuff.
For example, let's say we had to transition from Bernanke's "taper" to the Chinese making a bid to buy one of America's best known pork producers, Virginia-based Smithfield Foods. What would the solution be?
Joe says simple, "Let them eat … Tapir?!"
That's an animal that looks like some prehistoric cross between a pig and an anteater.
Networking With Cisco
Squawk co-host Andrew Ross Sorkin and the gang caught up with Frank Calderoni, CFO of tech giant Cisco on Thursday. You never see the products the company makes, but without them the Internet would crawl to a halt. Calderoni said that based on his business, the economy is getting better—a sentiment that Bernanke conveyed. (video)
He won three green jackets and three Claret Jugs (for those non-golfers, that means he's really good at golf.)
Sir Nick Faldo knows his way around a golf course and around the business world.
He stopped by the Squawk set to give us some putting lessons (see the video in the player) and an update on his expanding business empire into things like… scotch. (click video)
Tweet of Note
Follow Sir Nick Faldo at @nickfaldo006
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Here's a shout-out to all our "actively-tweeting' guests: Politico's @morningmoneyben; founder of distruptor OUYA @juhrman; CEO @HotelTonight's @SamShank, Senator from Minnesota @AmyKlobuchar; @SenatorBegich from Alaska; and the Washington Post's @Neil_Irwin.