FT News Briefing Thursday, May 2
May 2, 2019
The Federal Reserve announces no immediate changes to interest rates, creating ripples in the financial world. Beyond Meat skyrockets with a massive IPO, sparking interest in plant-based foods. Attorney General William Barr faces backlash over his handling of the Mueller report, adding to political tensions. Meanwhile, Boris Johnson's unexpected quirks in the Brexit saga leave political analysts buzzing about his future and the chaotic state of the Conservative Party's leadership.
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Fed Holds Rates Steady
- The Federal Reserve, led by Chair Jay Powell, decided to hold steady on interest rates.
- They cited concerns about inflation running below the 2% target and a slowdown in household spending and business investment.
Beyond Meat IPO
- Beyond Meat, a plant-based burger company, is entering the stock market with a successful IPO.
- This reflects strong investor interest in growth and the increasing demand for meat substitutes.
Barr's Testimony
- Attorney General William Barr faced criticism from Senate Democrats over his handling of the Mueller report.
- Senator Mazie Hirono accused Barr of lying to Congress and protecting the president.