Bloomberg Surveillance: Fed Rate Decision, Big Tech Earnings, and the AI Capital Race

This episode of Bloomberg Surveillance covers the major financial and geopolitical stories shaping global markets. Anchors Jonathan Ferro, Lisa Abramowicz, and Annmarie Hordern discuss the Federal Reserve's highly anticipated rate decision under Chair Kevin Warsh, a blockbuster week of big tech earnings, SK Hynix's record profit surge, and the intensifying competition for capital to fund AI infrastructure.

■ Federal Reserve & Macro Policy
- Fed Chair Kevin Warsh expected to hold rates despite hot CPI and PPI data
- Debate over the Fed's forward guidance strategy and communication under the new chair
- Guest perspectives from Claudia Sahm and former Philadelphia Fed President Patrick Harker on whether a hike is warranted
- Comparison with New Zealand's recent surprise rate hike

■ AI Capital Spending & Market Impact
- Meta's $98B equity raise and record demand from investors
- Anthropic's planned mega-IPO with J.P. Morgan and retail share allocation
- SK Hynix's sevenfold profit growth, $45B shareholder payout, and memory chip shortage through 2029-2030
- Competing capital needs across hyperscalers, AI labs, and Treasury issuance
- Guest analysis from Lisa Shalett (Morgan Stanley), Peter (Academy Securities), and others on credit spreads and bubble risk

■ Big Tech Earnings Preview
- Alphabet and Microsoft reporting after the close; Amazon the following day
- Azure growth, AI monetization, and capex guidance as key watch points

■ Geopolitics & U.S. Midterms
- Israel election results and Netanyahu's path to forming a government
- U.S. military preparations against Iran post-midterms with Stephen Cook (Council on Foreign Relations)
- Trump campaigning in red states as Democratic Senate takeover odds shift

■ AI, Economics & the Workforce
- Jason Furman on AI's potential to replace entry-level economic roles
- Discussion on training pipelines and government adoption of AI tools

This broadcast is suited for investors, financial professionals, and anyone tracking the intersection of central bank policy, AI-driven capital markets, and geopolitical risk. Viewers will gain context on how rate decisions, mega-cap earnings, and AI financing are interconnected, along with expert viewpoints to inform their own market and policy analysis.