FT News Briefing US hits highest interest rates in 22 years
Jul 27, 2023
The Federal Reserve has raised interest rates to their highest level in 22 years, coinciding with a drop in inflation. In brighter news, Meta has bounced back with impressive revenue growth. Meanwhile, UK billionaire Joe Lewis faces serious insider trading charges. Adding to the intrigue, China's foreign minister has mysteriously vanished, raising questions about international diplomacy. Lastly, Gap is strategizing a leadership change to tackle its ongoing business challenges.
AI Snips
Chapters
Transcript
Episode notes
Fed Raises Rates
- The Federal Reserve raised interest rates by 0.25%, reaching a 22-year high.
- They acknowledge some progress on inflation but remain cautious.
Data-Dependent Fed
- The Fed's data-dependent approach means each meeting's decision relies on the preceding six weeks' data.
- This explains their noncommittal stance on future rate hikes.
Meta's Revenue Rebound
- Meta's revenue growth returned to double digits, signaling a potential recovery in digital advertising.
- Their optimistic forecast further boosted investor confidence.