New Federal Reserve Governor Stephen Miran speaks at the Economic Club of New York after dissenting from a rate cut decision. Miran was confirmed last week to fill a vacancy left by Adriana Kugler. He previously served as chair of the Council of Economic Advisers and is not expected to be reappointed for a full term.
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1. Amazon announces plans to open new grocery stores in 2020, separate from Whole Foods. The first location will be in Los Angeles, with more to follow in Chicago and Philadelphia.
2. The U.S. economy grew at a rate of 2.1% in the fourth quarter of 2019, slightly lower than the previous quarter’s 2.3%. Consumer spending and business investment were key drivers of growth.
3. Google’s parent company, Alphabet, becomes the fourth U.S. company to reach a market value of $1 trillion. The tech giant’s stock has risen steadily over the past few months.
4. Tesla surpasses $100 billion market cap, making it the most valuable U.S. automaker ever. The company’s stock price has more than doubled since October, driven by strong sales and positive investor sentiment.: Watch new Fed Governor Stephen Miran speak live on the economy and interest rates
