FT News Briefing Thursday, March 21
Mar 21, 2019
UK Prime Minister Theresa May takes a bold leap with Brexit, prompting fears of a no-deal scenario. The Federal Reserve's decision to keep interest rates steady reveals a slowing economic landscape. Levi Strauss makes a splash with its $6.6 billion IPO, while Williams Sonoma shines with an upbeat forecast. As lawmakers grapple with the complexities of Brexit, the implications for trade and the economy loom large, heightening stakes in a chaotic political setting.
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Brexit Gamble Risks No Deal
- Theresa May’s gamble on a short Brexit extension raises the risk of a no-deal outcome.
- EU leaders are pressuring UK members of Parliament to pass May’s deal to avoid this scenario.
EU’s Opposition to Long Extension
- EU leaders oppose a long Brexit extension, preferring the UK pass May’s deal quickly.
- They believe a short extension until June is sufficient, putting pressure on Parliament.
Fed Holds Rates Steady
- The Federal Reserve signals it will hold interest rates steady in 2019, revising its earlier projection of two increases.
- This decision comes amid concerns about slower U.S. economic growth and global risks like Brexit and trade talks.