In the latest episode of Squawk Pod, discussions revolve around the potential ban of the Chinese AI startup DeepSeek in the U.S. due to national security concerns, alongside a weaker-than-expected jobs report showing 143,000 jobs added in January. The episode also covers a federal judge’s pause on a buyout offer for federal employees and features commentary on the Winklevoss twins’ crypto firm Gemini considering an IPO.
In the latest episode of Squawk Pod, CNBC producer Katie Kramer discusses significant developments regarding the Chinese AI startup DeepSeek and its potential ban in the U.S. The conversation features Republican Congressman Darren Le Hood and Democrat Congressman Josh Gimer, who express concerns about DeepSeek’s implications for national security. They argue that the app poses risks by potentially allowing the Chinese government to collect data on American users, similar to the scrutiny faced by TikTok. Both lawmakers emphasize the need for bipartisan action to protect American citizens from foreign adversaries.
The episode also highlights the latest jobs report, revealing that the U.S. economy added 143,000 jobs in January, which was below expectations. Despite the weaker job growth, the unemployment rate fell to 4%, the lowest since May of the previous year. Economists, including University of Michigan professor Betsy Stevenson and Minneapolis Federal Reserve President Neel Kashkari, comment on the labor market’s current state, indicating that it is operating at near full employment, albeit with slower wage growth than previously thought.
In a related segment, a federal judge has paused a buyout offer for federal employees, which was part of the Trump administration’s efficiency measures. The judge’s decision comes just hours before the deadline for employees to accept the buyout, and a hearing is scheduled to address the legality of the plan. Over 60,000 federal workers had already accepted the offer, but there are concerns about the implications of the buyout and the lack of clarity regarding payments and job security.
Everett Kelly, president of the American Federation of Government Employees, joins the discussion to voice his opposition to the buyout process. He argues that while streamlining the federal workforce may be necessary, it should be done appropriately and in accordance with established regulations. Kelly emphasizes the importance of consulting with federal workers to ensure that any changes do not negatively impact essential services and the overall functioning of government agencies.
The episode concludes with a discussion about the Winklevoss twins and their crypto firm Gemini, which is reportedly considering an IPO. The hosts reflect on the twins’ early involvement in the cryptocurrency space and their journey since the inception of Bitcoin. The episode wraps up with a reminder for listeners to tune in to Squawk Box on CNBC for more insights and updates on financial news and market trends.