Buffett succession, US trade deals, Fed meeting: 3 Things

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Buffett succession, US trade deals, Fed meeting: 3 Things

00:00 Speaker A

Let’s get to the three things that you need to know today.

00:03 Speaker B

First up, famed investor Warren Buffett announcing he will step down from the helm of Berkshire Hathaway after six decades on the job. The so-called Oracle of Omaha made the announcement at the company’s annual shareholder meeting. He’ll be succeeded by longtime Berkshire employee Greg Abel, who was confirmed today by the company’s board. Buffett delivered massive gains for Berkshire shareholders, outperforming the S&P 500 every year on average by more than double.

00:40 Speaker A

Plus, President Trump signaling progress on trade, suggesting the administration could see deals made as soon as this week, without specifying which countries. The president’s comments to reporters come after he sat down with NBC News and said he was willing to lower tariffs on China. Meanwhile, the president announced plans to impose a 100% tariff on films produced overseas, sending shares of media companies lower.

01:09 Speaker B

And the Federal Reserve will kick off its FOMC meeting in Washington this week. The central bank largely expected to keep rates on hold as traders dial back bets for cuts. But this decision comes as President Trump renews his calls for the central bank to lower rates, while maintaining his position that he has no intention of firing Jerome Powell.

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#Buffett #succession #trade #deals #Fed #meeting

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