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The Zacks Friday Finish Line Highlights: Intel Buys Mobileye, Trump's Budget, Fed Rate Hike

Madeleine Johnson

For Immediate Release

Chicago, IL—March 17, 2017—Zacks Friday Finish Line is a podcast hosted weekly by Zacks Editor Maddy Johnson and Content Writer Ryan McQueeney that takes on the week’s biggest news from the financial and investment world.

Intel Buys Mobileye, Trump’s Budget, and the Impact of the Fed Rate Hike

On today’s episode of the Zacks Friday Finish Line, Content Writer Ryan McQueeney and Editor Maddy Johnson take on this week’s biggest stories: the Fed’s latest interest rate hike and what it will mean for the markets.

Intel Buys Mobileye

First, the hosts discussed Intel’s INTC massive $15.3 billion acquisition of Mobileye MBLY Intel plans on bringing the Israeli firm into its existing self-driving car unit, and it’s clear that the merger is intended to create a powerhouse in the growing autonomous vehicle industry.

Trump’s Budget

Next up, Ryan and Maddy dove into President Trump’s first budget plan. The president’s “America First” proposal calls for massive cuts to the budgets of several government agencies, including the State Department and the EPA, but it also increases defense and homeland security spending.

The budget also allocates money for Trump’s promised border wall, including several billion dollars over the next few years going towards pilot projects to study the most effective method of construction. Interestingly enough, however, the budget plan also cuts programs to help impoverished communities in Trump strongholds like the Mississippi Delta and Appalachia regions.

Fed Rate Hike

Finally, the hosts covered the Federal Reserve’s decision to hike its benchmark interest rate for the first time this year. The hike is a clear declaration of the central bank’s confidence in the American economy, and it will set the stakes for another pair of hikes this year.

Maddy and Ryan were then joined by Patricia Larkin, the Chief Investment Officer at BNY Mellon Cash Investment Strategies. Patricia is an expert on money market funds, a short-term strategy that is sure to be affected by the hike cycle. She helped explain what the relationship between these funds and the interest rate is, ultimately concluding with a short-term outlook for the money markets given the Fed’s hike schedule.

As always, thanks for checking out this week’s episode of the Zacks Friday Finish Line, and make sure to check back next week for even more news from the investment and financial world!

Want More Zacks Friday Finish Line?

Check back every Friday for a new episode that looks at each week’s biggest financial and investment news. You can follow the Zacks Friday Finish Line Podcast on iTunes, Soundcloud, and ZacksInvestmentNews on YouTube.

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