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Bloomberg's Tom Keene and Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.

Federal Reserve Chair Jerome Powell said he’ll remain at the central bank as a governor after his term as chair ends. “After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to be determined,” Powell said Wednesday at a press conference.

While Powell’s term as Fed chair ends on May 15, his seat on the Board of Governors doesn’t expire until 2028. “I plan to keep a low profile as a governor,” he said. “There is only ever one chair of the Federal Reserve Board. When Kevin Warsh is confirmed and sworn in, he will be that chair.”
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Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.
Federal Reserve officials left interest rates unchanged, but revealed a deepening division over the outlook for policy amid increased uncertainty caused by the conflict in the Middle East.Four officials voted against the decision, including three who objected to language in their post-meeting statement that suggested the central bank would eventually resume cutting rates.
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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Manifest OS, a startup selling AI software to lawyers, has sealed a $60 million Series A funding round valuing it at $750 million.

Investors in the round include Menlo Ventures, Kleiner Perkins, First Round Capital and Quiet Capital, according to a statement reviewed by Bloomberg News.Manifest OS was founded by Dan Mishin, an entrepreneur who said he spent tens of thousands of dollars on the legal paperwork to become a US citizen. He said his company’s mission is to “end the billable hour” to make legal services accessible to all.

Manifest OS founder and CEO Dan Mishin talks to hosts Carol Massar and Tim Stenovec about his firm's latest funding round and how it's using the emerging technology in the legal world.
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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
A constellation of artificial-intelligence stocks dropped after OpenAI reportedly failed to meet its sales and user targets, rekindling doubts that the hundreds of billions of dollars that big companies are plowing into the technology will deliver sufficient profits anytime soon.
The report dragged down the stocks of companies that have cut investment and business deals with OpenAI, which helped unleash the stock-market’s AI boom after the release of ChatGPT more than three years ago.
The reported miss by OpenAI revived worries that have shadowed the stock market periodically for months as technology giants like Microsoft Corp., Meta Platforms Inc., Amazon.com Inc. and Alphabet Inc. invest heavily in AI and stocks have rallied on the back of it.
Today's show features:
Mandeep Singh, Bloomberg Intelligence Global Head of Technology Research
Sarah Frier, Bloomberg News Big Tech Team Leader
Rachel Metz, Bloomberg News AI Reporter
Mitch Berlin, EY Americas Vice Chair, EY-Parthenon on state of the C-suite amid geopolitical uncertainty and questions about AI
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Opici Wines & Spirits Opici Wines & Spirits is a fourth-generation importer and producer with family roots in the wine business dating back to 1913. Led by Don Opici as CEO, the company features a growing portfolio of over 50 brands from around the world. The philosophy behind the Opici name remains the same today as it was over 100 years ago: a commitment to excellence, quality, and building meaningful relationships with customers, suppliers, and employees.

Chris Wirth is the Director of Sustainability at Opici Wines & Spirits. He discusses the different ways wineries can be considered Sustainable and the inventive things that wineries are doing to become more environmentally friendly.
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