Buffett succession, US trade deals, Fed meeting: 3 Things

1 month ago 25

Mon, May 5, 2025, 9:12 AM

Federal Reserve officials volition beryllium convening successful Washington, D.C. this week for their May FOMC meeting, starting this Tuesday and concluding connected Wednesday, May 7, with the cardinal bank's latest determination connected involvement rates and a property league with Chair Jerome Powell.

To ticker much adept insights and investigation connected the latest marketplace action, cheque retired much Morning Brief here.

00:00 Speaker A

Let's get to the 3 things that you request to cognize today.

00:03 Speaker B

First up, famed capitalist Warren Buffett announcing helium volition measurement down from the helm of Berkshire Hathaway aft six decades connected the job. The alleged Oracle of Omaha made the announcement astatine the company's yearly shareholder meeting. He'll beryllium succeeded by longtime Berkshire worker Greg Abel, who was confirmed contiguous by the company's board. Buffett delivered monolithic gains for Berkshire shareholders, outperforming the S&P 500 each twelvemonth connected mean by much than double.

00:40 Speaker A

Plus, President Trump signaling advancement connected trade, suggesting the medication could spot deals made arsenic soon arsenic this week, without specifying which countries. The president's comments to reporters travel aft helium sat down with NBC News and said helium was consenting to little tariffs connected China. Meanwhile, the president announced plans to enforce a 100% tariff connected films produced overseas, sending shares of media companies lower.

01:09 Speaker B

And the Federal Reserve volition footwear disconnected its FOMC gathering successful Washington this week. The cardinal slope mostly expected to support rates connected clasp arsenic traders dial backmost bets for cuts. But this determination comes arsenic President Trump renews his calls for the cardinal slope to little rates, portion maintaining his presumption that helium has nary volition of firing Jerome Powell.