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Bloomberg Daybreak: Asia Edition
Fed Holds Rates, Tencent Doubles Buyback
Mar 21, 2024
Fed's decision to hold interest rates steady and its impact on global economic outlook, Tencent's earnings and double share buybacks, potential interest rate cuts, investment opportunities in small cap stocks, analyzing Bitcoin volatility, Tencent's international growth strategy and focus on AI, financial performance, and regulatory risks.
26:36
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Quick takeaways
- Federal Reserve maintains interest rates to wait for more evidence of inflation retreat before adjusting rates, signaling a cautious approach to monetary policy.
- Tencent's decision to double share buybacks highlights their confidence in the company's future growth and potential market value, reflecting a strategic financial move.
Deep dives
Federal Reserve's Rate Decision and Outlook
The Federal Reserve held the Fed Funds Rate steady and maintained the outlook for three 25 basis point cuts this year. Chairman Jay Powell emphasized the need for more evidence of inflation retreat before reducing rates. The Fed aims to ensure inflation moves sustainably towards two percent before adjusting the target range, anticipating three rate cuts by the middle of the year.
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