Fed Decision Day, Then What?
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 3 May 2023
⏱️ 10 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Wednesday, May 3rd, and I'm your host Julie Morgan. |
| 0:12.0 | The Federal Reserve is expected to boost the policy rate by 25 |
| 0:16.1 | basis points. Then what? Today is stock of the week Wednesday. I'm also following Micron because I think that's the most important |
| 0:25.1 | stock in the world. Kimes Siegel is the investing group leader of Fed trader on |
| 0:29.4 | seeking Alpha. Today he's sharing why he believes Micron is so important. |
| 0:35.0 | Revlon emerges from Chapter 11 protection. |
| 0:38.0 | The CEO says the company looks to unlock the full potential of its brands. |
| 0:44.0 | Our top story. |
| 0:45.6 | Federal Reserve Policymakers met Tuesday |
| 0:48.1 | and the meeting will continue today |
| 0:50.2 | to assess whether they've done enough to cool down the hottest inflation seen in 40 years. |
| 0:56.0 | Market participants are betting that the Federal Open Market Committee is not finished yet in its rate hiking moves. |
| 1:02.0 | The debate at the Fed is expected to be between a finished yet in its rate hiking moves. |
| 1:02.8 | The debate at the Fed is expected to be between a 25 basis point rate hike, which would bring the |
| 1:07.7 | Federal funds target rate range to 5 to 5.5 percent, or keeping the range at 4.3 quarters to 5.5 percent or keeping the range at 4 and 3 quarters to 5 percent. |
| 1:16.0 | But market participants expect little in the way of debate. |
| 1:20.0 | As of this morning, according to the CME Fed Watch tool, investors see an 88% probability |
| 1:26.5 | of a 25 basis point hike on Wednesday, up from a 48.4% probability a month ago. |
| 1:33.6 | One data point that may make the case for another rate hike |
| 1:36.9 | is weekly jobless claims, which unexpectedly fell on Thursday. |
| 1:41.1 | The labor market has been persistently resilient and Fed Chair Jerome Powell has |
... |
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