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Bloomberg Tech

Powell Spooks Markets, More Job Cuts at Meta

Bloomberg Tech

Bloomberg

News, Business News, Tech News

4.469 Ratings

🗓️ 7 March 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

Bloomberg's Caroline Hyde and Ed Ludlow discuss Fed Chair Jerome Powell testimony that failure to reach a deal on the national debt limit could have dire consequences for the economy, hinting a higher than expected rate hike, and upping his fight with crypto. Plus Meta is planning to layoff thousands more this week to fulfill CEO Mark Zuckerberg's Year of Efficiency. 

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Transcript

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0:00.0

Join global business leaders and investors at the Bloomberg Sustainable Business Summit, returning to Singapore on July 31st.

0:09.0

Take part in solutions driven discussions on how to drive business value and unlock opportunity

0:14.8

while remaining nimble in times of change and greater ESG accountability.

0:19.5

Learn more at Bloomberg Live.com slash sustainablebiz Singapore. That's Bloomberg Live.com slash Sustainable Biz Singapore.

0:24.0

That's Bloomberg Live.com slash sustainable Biz Singapore. I'm Caroline Hyde at Bloomberg's world headquarters in New York.

0:46.0

And I'm Ed Lovello in San Francisco, this is Bloomberg Technology.

0:50.0

Coming up, Hawks, Stocks, Jerome Powell, Stokes, Stokes, Marks.

0:53.0

That's is Mike Wilson over at Morgan Stanley,

0:55.2

Wands Growth Equity's face pressure ahead.

0:57.9

We'll bring you the details.

0:59.5

Plus more job cuts at Meta,

1:01.6

the Facebook parents planning to lay off thousands as soon as this

1:04.8

week more on our Bloomberg exclusive ahead and China shakes up oversight of its vast

1:10.3

tech arena that's the Shizhing Ping focuses on fending off US sanctions and

1:14.8

achieving self-sufficiency in areas from AI to chips. All that and so much more coming

1:20.3

up and there is a lot to digest in the macro part of these markets today.

1:24.6

It was one of a perspective coming from Jerome Powell coming out fighting and we see that

1:28.9

maybe the Federal Reserve is not done tackling inflation.

1:31.6

Nas that falls one and a quarter percent, so big tech on deck.

1:34.2

We look at all country world index.

1:35.8

In fact, all this worry around what the Federal Reserve,

1:39.2

the Central Bank to the world will do affected European trading.

...

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