Lawmakers and economists are debating the future of the Federal Reserve after President-elect Trump’s promises to fire Fed Chair Jay Powell and Senator Mike Lee’s (R-UT) call to #EndTheFed. Judy Shelton and CNBC’s Steve Liesman to discuss the role of the central bank and the constitutional precedent for Fed independence. As the AI revolution ramps up, Goldman Sachs’s Jared Cohen highlights the infrastructure needed to support the technology’s energy demands. Cohen calls for “data center diplomacy” as AI underscores geopolitics and competition between China and the United States. Plus, the price of bitcoin reached nearly $90,000, Trump’s victory has lifted Elon Musk’s net worth by $70 billion, and Trump’s latest picks for his second administration include Sen. Marco Rubio, Rep. Mike Waltz and Gov. Kristi Noem.

Jared Cohen - 12:43

Judy Shelton - 25:53

In this episode:

Jared Cohen, @JaredCohen

Judy Shelton, @judyshel

Steve Liesman, @steveliesman

Eamon Javers, @EamonJavers

Becky Quick, @BeckyQuick

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie

President-elect Donald Trump has begun to make his first appointments in his new administration. Over the weekend, he named Tom Homan as border czar, said Nikki Haley and Mike Pompeo will not join his second term, and wrote on Truth Social that the Senate majority leader should agree to allow recess appointments to Trump’s cabinet. On X, Senator Mike Lee (R-Utah) suggested reasons to “#EndtheFed,” garnering support from Elon Musk. Lazard CEO Peter Orszag weighs in on Fed independence and discusses what to expect after the transfer of power, including the market impact and the M&A cycle. Next, Property Brothers Drew and Jonathan Scott discuss the state of the housing market and their new HGTV show “Don’t Hate Your House,” focused on how homeowners who can't move are renovating their homes.

Peter Orzag - 14:21

Drew & Jonathan Scott - 29:01

In this episode:

Drew Scott, @MrDrewScott

Jonathan Scott, @JonathanScott

Becky Quick, @BeckyQuick

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie

In the central bank’s latest decision, the Federal Reserve cut its benchmark rate by 25bps. While Democrats wrestle with what went wrong for Vice President Harris, Republicans are making plans for President-Elect Trump 2.0. Former Republican presidential candidate Vivek Ramaswamy and former Trump staffer turned Harris-backer Anthony Scaramucci debate immigration policy and whether the country can “turn the page” under the new administration. Plus, Susie Wiles will be Donald Trump’s White House chief of staff, the Washington Post has called employees back to the office five days a week, and a New Jersey voter endorsed a certain Squawk anchor for president.

Steve Liesman - 06:53

Vivek Ramaswamy & Anthony Scaramucci - 19:58

In this episode:

Vivek Ramaswamy, @VivekGRamaswamy

Anthony Scaramucci, @Scaramucci

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie