Powell era ends, hawks rise

About this episode

The episode discusses the implications of Jerome Powell's continued role at the Federal Reserve amidst rising inflation expectations and market reactions to major companies.

U.S. President Donald Trump suggested the Iran blockade could last months, sending Brent crude to its highest level since the war began and feeding U.S. inflation expectations. Jerome Powell confirmed he will remain on the Federal Reserve board after his term as chair ends May 15, a move that blocks Trump from immediately filling his seat. Plus, Meta slid around 7% on rising CapEx concerns, while Alphabet surged roughly 7% on the strength of its cloud business. Today’s recommended read: Iran war stasis brings US inflation expectations back to the boil, Mike Dolan Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

People in this episode

Hosts: Eliza Davis Beard, Ethan Plotkin, Abisoye Adelusi

Topics covered

• Federal Reserve
• U.S. inflation
• Iran blockade
• Meta
• Alphabet
• investing
• business news

Keywords

• Jerome Powell
• Donald Trump
• U.S. inflation
• Meta
• Alphabet
• Brent crude
• Iran blockade
• investing
• business news

Mentioned in this episode

Organizations: Alphabet, Meta, Reuters

Books & works: Morning Bid

More episodes of Reuters Morning Bid

• SpaceX’s launch day · June 12, 2026 · 7 min
• Hike and seek · June 11, 2026 · 8 min
• Oil pump and circumstance · June 10, 2026 · 16 min
• Chip happens · June 9, 2026 · 15 min
• Week Ahead: SpaceX odyssey · June 8, 2026 · 17 min
• No hire, no fire? · June 5, 2026 · 9 min