Wall Street Breakfast May 4: The Fed Poised for First 50bps Rate Hike in 22 years

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 4 May 2022

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Federal Reserve is poised for the first 50 bps rate hike in 22 years. Meta e-commerce efforts hit hurdles. Europe is raising the stakes on Russian energy exports. Catch today’s WSB article here.

Transcript

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0:00.0	Welcome to Seeking Alpha's Wall Street breakfast, your daily source of market news and analysis.
0:06.8	Subscribe to this podcast on Apple Podcast, Spotify or Stitcher.
0:11.1	Good morning. Today is Wednesday and I'm your host Julie Morgan.
0:15.1	May the 4th be with you.
0:16.9	Our top stories.
0:18.4	The Federal Reserve Meta platforms and Russian energy exports.
0:23.0	The Federal Reserve is poised to raise interest rates by 50 basis points.
0:27.0	When was the last time that happened?
0:30.0	Meta platforms has been working on its e-commerce unit for two years.
0:34.3	What's the holdup?
0:35.8	And the European Commission is working on a plan to replace Russian natural gas
0:39.9	imports, how much, and how soon.
0:42.6	Let's get into it.
0:44.4	The Federal Reserve has been telling us
0:46.2	what will happen on this day.
0:48.0	A 50 basis point increase is expected.
0:51.2	This will happen when the Federal Reserve comes out of its two-day meeting and makes an announcement today in the 2 o'clock hour.
0:57.0	The interest rate was hiked by 50 basis points in March that was the first increase since 2018. is the
1:05.0	first time in 22 years that the Fed is poised to raise interest rates by more
1:09.5	than a quarter of a percentage point.
1:12.0	More hikes are expected with benchmark rates at 2.5% by the end of the year.
1:17.0	This type of increase falls in line with the strength of the labor market.
	...

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