00:00 Speaker a
Let us know three things you need to know today.
00:03 Speaker b
First, prominent investor Warren Buffett announced that he will take the helm from Berkshire Hathaway after sixty years of work. Omaha’s so-called Oracle made the announcement at the company’s annual shareholder meeting. Longtime Berkshire employee Greg Abel will replace him, who was confirmed by the company’s board of directors today. Buffett has brought huge gains to Berkshire shareholders, an average of more than twice the average annual performance of the S&P 500 points.
00:40 Speaker a
Additionally, President Trump’s signal has been given a signal on trade, suggesting that the administration can reach a deal immediately this week without specifying which countries. The president's comments to reporters came after he sat down with NBC News that he was willing to lower tariffs on China. Meanwhile, the president announced plans to impose 100% tariffs on films produced overseas and reduce the stock of media companies.
01:09 Speaker b
The Fed will hold the FOMC meeting this week in Washington. Central banks are largely expected to maintain interest rates when traders place cuts bets. But the decision comes as President Trump updated his call for central banks to lower interest rates while maintaining his stance that he had no intention of firing Jerome Powell.
