Jerome Powell triggers market bets on a September rate cut
Summary
Federal Reserve Chair Jay Powell indicated a shift towards lowering interest rates, prompting market bets on a September cut, driven by concerns over the labor market and a view on tariffs' transitory impact. Meanwhile, European venture capitalists are investing heavily in new air defense technologies, inspired by Israel's Iron Dome and the Ukraine conflict. Spanish bank Santander is also making a strategic play on Wall Street by embracing the SPAC market, leveraging key hires and a unique fee structure to gain a foothold.Episode description
Jay Powell signalled a monetary policy shift during a high-profile Jackson Hole speech last week, and European investors are pouring money into new air defence technology. Plus, Spanish bank Santander is seeking to become a big player in Wall Street’s Spac market.
Mentioned in this podcast:
Jay Powell paves the way for Federal Reserve interest rate cut in September
Wall Street’s September Fed rate cut bets still hinge on economic data
Venture capital steps up ‘Iron Dome’ air defence investments
Santander signals Wall St ambition with Spac mandates
Today’s FT News Briefing was produced by Josh Gabert-Doyon, Ethan Plotkin, and Sonja Hutson. Additional help from Alex Higgins, Peter Barber. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music.
Read a transcript of this episode on FT.com
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