Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Doug Krisner. The Fed left interest rates unchanged today in a move that was widely expected.
Chapter 2: What recent decision did the Fed make regarding interest rates?
Policymakers pointed to improvement in the American economy and the job market. Here is Chair Jay Powell.
The U.S. economy expanded at a solid pace last year and is coming into 2026 on a firm footing. While job gains have remained low, the unemployment rate has shown some signs of stabilization, and inflation remains somewhat elevated.
And as a result of those points, the Fed signaled a more cautious approach to potential future adjustments in interest rates. Now, today's decision comes as the Fed faces pressure from the Trump administration. There is a criminal investigation regarding improvements to the Fed's headquarters and the Supreme Court case over President Trump's attempt to remove Fed Governor Lisa Cook.
Powell stressed the importance of Fed independence.
Every advanced economy democracy in the world has come around to this common practice. It's just an institutional arrangement that has served the people well. And that is to have a separation between, to not have direct elected official control over the setting of monetary policy.
And the reason is that monetary policy can be used through an election cycle to affect the economy in a way that will be politically worthwhile.
That is Fed Chair Jay Powell. We move to earnings news next. Tesla's profit for the latest quarter beat analyst expectations. Now, this would suggest the company is making progress toward overcoming rising cost and dealing with an end to those U.S. tax incentives for electric vehicles. Later, in a call with analyst Tesla CEO Elon Musk said the company will discontinue the Model S and X vehicles.
It's time to basically bring the Model S and X programs to an end with an honorable discharge because we're really moving into a future that is based on autonomy.
That was Tesla CEO Elon Musk. At the same time, Tesla announced plans for artificial intelligence. The company is planning to invest $2 billion into Elon Musk's AI company, XAI. We also heard after the bell from Meta Platforms, The company reported earnings for Q4 above analyst estimates, and Meta raised guidance for the current quarter.
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