FT News Briefing Thursday, July 11
Jul 11, 2019
The Trump administration investigates France's proposed tax on big tech, stirring political tensions. Meanwhile, Federal Reserve Chairman Jay Powell hints at possible interest rate cuts, signaling shifts in economic strategy. As Wall Street reacts, Amazon Music climbs the ranks as the fastest-growing streaming service, showcasing a competitive music market. The discussion navigates the balance between economic growth and risks like asset bubbles.
AI Snips
Chapters
Transcript
Episode notes
Fed Rate Cut Likely
- Fed Chairman Jay Powell hinted at a likely interest rate cut in his congressional testimony.
- This follows months of pressure from President Trump, who has been advocating for lower rates.
Shifting Monetary Policy
- The Federal Reserve is signaling a potential reversal in its monetary policy.
- After a period of raising interest rates, they now consider cutting them due to global economic concerns and trade tensions.
Rate Cut Despite Jobs Growth
- Despite a positive jobs report, the Fed still leans towards an interest rate cut.
- Powell emphasized that weak business investment and overall economic data outweigh the positive jobs numbers.