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Good morning from the newsroom of the Financial Times.

Today is Thursday, May 2nd and Good morning from the Newsroom of the Financial Times.

Today is Thursday, May 2nd, and this is your FT news briefing.

Fed Chair Jay Powell rules out any immediate interest rate moves.

Meet Substitute startup Beyond Meat gets ready for its NASDAQ trading debut.

And U.S. Attorney General William Barr spars with Democrats over his characterization of the Mueller report.

Plus I talked with the FT's political editor George Parker about the man who might make a run

for the top job at 10 Downing Street. I'm Mark Filipino and here's the news you need to start your day.

We've just come through a two day meeting and we've done a deep dive on economic

and financial conditions at the United States and around the world. That's Federal

Reserve Chair Jay Powell. He capped off the Fed's two-day meeting yesterday by telling

reporters that even with inflation running below its 2% target,

policymakers want to remain patient before moving rates in either direction.

We do think our policy stance is appropriate right now.

As expected, the Fed didn't change the target range for the federal funds rate.

It's still in the range of 2.25% to 2.5%. The Central Bank also said that the

economy is advancing at a solid rate overall, but it pointed out that household spending

and business investment slowed in the first quarter.

Investors who had been betting on a rate cut reversed their positions after Mr. Powell spoke.

A rally in the Treasury market fizzled out and the US dollar rose.

...