FT News Briefing Federal Reserve signals first rate rise in 2023
Jun 17, 2021
Federal Reserve officials are gearing up to raise interest rates in 2023, sparking discussions about economic impacts and investment strategies. Toshiba faces a corporate governance crisis amid allegations of collusion, raising concerns for shareholder rights in Japan. Meanwhile, the appointment of Lina Khan as chair of the FTC hints at a tougher stance on antitrust issues, particularly against major tech firms. The podcast also touches on evolving viewpoints on competition and the challenges in the venture capital landscape.
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Interest Rate Hike
- The Federal Reserve expects two U.S. interest rate increases in 2023.
- This is a shift from previous predictions of sustained low rates until 2024.
Market Reaction
- Government bond yields jumped, and U.S. equities declined after the Fed meeting.
- Investors are repricing assets to account for potentially faster-than-expected interest rate increases.
Toshiba's Crisis
- Toshiba's latest corporate crisis involves a battle with activist investors and a damning independent report.
- The report revealed Toshiba colluded with the Japanese government to thwart activist investors.