Powell’s plan, Iran war cost, Voting Rights Act and cheap Chinese EVs
4/30/202612 min
Federal Reserve Chair Jerome Powell’s last act: holding rates and a pledge to stick around as a governor. The Pentagon puts a $25 billion price tag on the Iran war so far. The U.S. Supreme Court guts a key provision of the Voting Rights Act, in a move that could reshape voting across the South. And for the average price of a car in the U.S., you could buy five brand new Chinese EVs. Listen to the Morning Bid podcast here. Sign up for the Reuters Econ World newsletter here. Listen to the Reuters Econ World podcast here. 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
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First 90 secondsKim Vinnell· Host0:00
Hi, I'm Kim Vennell in Wanganui, New Zealand. It's Thursday, April 30th. Today, [gentle music] the Federal Reserve is split over where the economy is headed, but opts to keep rates unchanged. The Supreme Court guts part of the Voting Rights Act, potentially setting up a big win for Republicans long-term. And karaoke in the backseat, anyone? The Beijing Auto Show puts Chinese car technology on display at bargain prices. This is Reuters World News, bringing you everything you need to know from the front lines in 10 minutes, seven days a week. [gentle music] We start with the US Federal Reserve, which is holding interest rates steady, but behind the scenes, there's a huge divide. Four officials dissented, split over whether the next move should be a cut, a hike, or no change at all. Policy makers pointed to stubborn inflation, $100-plus oil prices, and growing uncertainty, all just weeks before leadership of the central bank passes from Jerome Powell to Kevin Warsh. Fed reporter Howard Schneider says this is the moment when central banking gets interesting.
Howard Schneider1:23
This is what passes for, I guess, the penultimate episode of Survivor or something. You know, an 8-4 vote on