The Fed changes course
Summary
This episode details the Federal Reserve's decision to lower interest rates, marking the first cut of the year, driven by a cooling labor market despite inflation concerns. It also explores China's ban on NVIDIA's AI chips, a strategic move to boost its domestic tech industry and reduce reliance on foreign technology. Furthermore, the discussion highlights the unique investment strategy of the Swiss National Bank, which has become a significant investor in US tech stocks to manage the strength of the Swiss franc, and touches on President Trump's state visit to the UK.Episode description
The Federal Reserve has cut interest rates for the first time this year and China is banning its tech companies from buying AI chips made by Nvidia. Plus, how did the Swiss National Bank become one of the world’s top investors in US tech?
Mentioned in this podcast:
Federal Reserve cuts rates by quarter point and signals more to come
China bans tech companies from buying Nvidia’s AI chips
Protesters against Trump state visit march through London
Credit: Reuters
Today’s FT News Briefing was produced by Fiona Symon, Katya Kumkova, Sonja Hutson, and Marc Filippino. Additional help from Kelly Garry, Michael Lello, David da Silva and Gavin Kallmann. 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
Hosted on Acast. See acast.com/privacy for more information.