PPI and Fedspeak Slam Stocks, Exclusive With Cisco CEO, Bitcoin Rally vs. Munger 2/16/23

Carl Quintanilla, David Faber and Mike Santoli focused on the inflation/Fedspeak double whammy for stocks: The January Producer Price Index came in hotter than expected, followed by Cleveland Fed President Loretta Mester saying she saw a "compelling case"  for a 50 basis point rate hike earlier this month. Cisco CEO Chuck Robbins joined the program to discuss the company's better-than-expected quarterly results, raised guidance and his take on artificial intelligence. The anchors discussed the streaming landscape: Paramount Global down sharply after posting a quarterly miss, while Roku shares surged on growth in new users. Also in focus: Bitcoin hits a six-month high, Berkshire Hathaway Vice Chairman Charlie Munger on the "horror" of crypto, Shopify tumbles and Twilio soars.