Carl Quintanilla, Sara Eisen, & David Faber kicked off a big morning on Wall Street with more fallout related to the DOJ-Powell probe, before hitting 2 other key stories of the day: consumer inflation & bank earnings. Evercore's Julian Emanuel and former Barclays CEO Bob Diamond joined the team to give their takes on the action.

Plus: Microsoft out with a new 5-part plan to reduce consumer impact from its growing energy, water, and land use tied to AI... President Brad Smith broke down the move and what comes next this hour.

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Carl Quintanilla, Jim Cramer and David Faber discussed the Justice Department's criminal probe into Federal Reserve Chair Jerome Powell — and how it's facing blowback from both sides of the aisle on Capitol Hill, as well as condemnation from central bankers around the globe. The anchors also discussed JPMorgan Chase's quarterly beat as the bank's results kick off earnings season. In a CNBC Exclusive at the J.P. Morgan Healthcare Conference in San Francisco, Jim interviewed Eli Lilly CEO David Ricks about obesity drugs and the company's growth into a $1 trillion pharma giant. Also in focus: December CPI holds steady at 2.7% year-on-year, Microsoft's new data center initiative to lower power costs.

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Carl Quintanilla, Sara Eisen, & David Faber kicked off the hour with new comments from former Treasury Secretary Janet Yellen - not mincing words when it comes to a new DOJ probe targeting Fed Chair Powell - before breaking down the market impact with Truist Wealth's Chief Investing Officer. Plus: former CEA chair Jason Furman joined the team with his take on the action - fresh off a new joint statement with Yellen and other important officials - arguing these moves have highly negative consequences on inflation and the broader economy.

Elsewhere: hear about how the consumer's holding up with the CEO of Shopify - and the latest on media stocks as Paramount files a new lawsuit in its quest to own Warner Bros. Discovery.

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