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Chapter 1: What is the main topic discussed in this episode?
I'm Barry Ritholtz, inviting you to join me for the Masters in Business podcast. Every week, we bring you fascinating conversations with the people who shape markets, investing, and business.
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News when you want it. With Bloomberg News Now, I'm Doug Krisner.
Chapter 2: What recent decisions has the Fed made regarding interest rates?
The Fed left interest rates unchanged today in a move that was widely expected. 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.
Well, 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 reported profit for the latest quarter above analyst expectations. That seems to suggest the company is making progress toward overcoming rising cost and an end to U.S. incentives for electric vehicles. The bigger story, though, was Tesla's artificial intelligence plans.
The company is planning to invest $2 billion into Elon Musk's AI company, XAI. Here's Bloomberg's Ed Ludlow.
They have arranged a framework where Tesla can leverage XAI's work in models to accelerate what Tesla wants to do in the physical world. In other words, humanoid robotics and autonomous driving.
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Chapter 3: How is the U.S. economy performing according to Fed Chair Jay Powell?
That was when the Bloomberg Dollar Spot Index fell by 1.1 percent. Now, to be fair, a portion of Tuesday's drop did come after President Trump said he was comfortable with a dollar slide. Today, the Bloomberg Dollar Spot Index rose four-tenths of one percent. Tomorrow, after the closing bell, we'll get quarterly results from Apple. We have a preview from Bloomberg's Tom Busby.
apple is poised to deliver its biggest sales quarter ever thanks in large part to expected blowout sales of its iphone 17 lineup especially for the higher end models but investors are still concerned about rising costs for components especially memory chips and what sales look like in china which declined just three months ago bloomberg consensus calls for revenue to jump 11 higher to 138.4 billion dollars the biggest quarterly growth in four years
on earnings per share of $2.68. Tom Busby, Bloomberg Radio.
And that is news when you want it with Bloomberg News Now. I'm Doug Krisner and this is Bloomberg.
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This is Scarlett Fu.
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