The Fed’s losing its punch, stick with long-term assets, says hedge-fund billionaire Kyle Bass

Need to Know: Hedge-fund billionaire Kyle Bass says the Fed has lost its punch

It has been a tale of two Internet giants, with Amazon AMZN, -1.35% shares down as its record earnings run ground to a halt, while those of Google parent Alphabet GOOGL, -0.33% are up after better-than-expected results late Thursday. So far, tech stocks seem ready to look on the bright side.

“I think in early 2020, you are just going to see softness in the U.S. economy. We might have shallow recession, but if we do...we will immediately go to zero rates,” the founder and chief investment officer of Hayman Capital Management told CNBC in an interview late Thursday. That was the gist of what we heard earlier this week from Stack Financial Management’s president James Stack, who spoke to MarketWatch about the Fed’s record in preventing a recession and market crash.

Telecoms group Comcast CMCSA, -0.58% says it will launch its NBCUniversal streaming service by April 2020, and cater big to “The Office” fans.

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