Weekly Summary – The Fed is Forcing a Recession!

About the Video

Weekly stock market analysis – Macroeconomic updates, Jerome Powell’s speech at Washington, Disney Earnings, Microsoft’s Bing, Google’s Bard and more.

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โฌ‡๏ธ Timestamps:
0:00 โ†’ Macroeconomic Updates
2:11 โ†’ Jerome Powell’s speech
5:19 โ†’ Earnings: Disney (DIS)
6:57 โ†’ Microsoft’s Bing vs Google’s Bard
9:17 โ†’ Upcoming Important Dates

At an event in Washington, Federal Reserve Chair Jerome Powell stated that interest rates need to keep rising to stave off inflation, and that the terminal fed funds rate may reach a higher peak than traders and policymakers anticipate, in the aftermath of a red-hot January employment report where US employers added 517,000 new workers in January while unemployment rate fell to 3.4%.

Walt Disney Co.โ€™s shares climbed after they announced plans for a dramatic restructuring which includes 7,000 job cuts and $5.5 billion in cost savings. The reductions include plans to trim $3 billion from its budget for movies and TV shows and the rest in non-content related areas, and about $1 billion of the savings are already underway. As part of the change, Disneyโ€™s CEO also announced that the company will be reorganised into 3 divisions: an entertainment unit that includes its main TV, film and streaming businesses; the ESPN sports networks; and the theme-park unit, which includes cruise ships and consumer products.

By relaunching Bing (an AI chatbot built on ChatGPT), Microsoft was able to preview a new kind of internet search โ€“ one that lets you talk to and interrogate a seemingly all-knowing sage rather than just be presented with a list of web pages. In response, Google also announced their own AI chatbot called Bard which is not yet available for the public because they are still trying out on a small private group.

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