Hey everybody Rob Mauer here for what should be a relatively quick episode as we really

don't have too much Tesla news today, however still a very wild day in the market with

the FOMC meeting so we'll talk about that.

We do have a little bit of Tesla news and then we've also got reporting on US sales from

a number of different automakers for the month of April.

Alright so looking at the markets quite a roller coaster volatility today as expected

with the FOMC that are open market committee meeting, we'll talk about all the takeaways

from that meeting but after some of the comments made by FedGerman Jerome Powell the market

did rally the NASDAQ finished up 3.2% on the day, it's a fifth best performance for the

NASDAQ this year and of course Tesla following the NASDAQ around for most of the day albeit

with a higher beta, ending the day of 4.8% for a top 10 finish for the year as well to

close at $952.62.

So pretty clearly today all macro driven and in the absence of other news that's what

we're going to focus on here so I want to go through the Fed meeting both the statement

they released and the comments made afterward by FedGerman Jerome Powell.

Of course the headline is that the Fed did end up raising interest rates so the federal

funds target rate now moved to 3.4% to 1% to 50 basis point increase or half a percent

that's the largest increase in one single meeting in the last two decades.

Of course as we had talked about this was expected so that released in actually end up moving

the markets all that much similarly the announcement by the Fed that they will begin unwinding

their holdings of treasury securities and other such items from the balance sheet

beginning on June 1st we'll talk a little bit more about that in a second but back

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