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May 9 - According to Irans Mehr News Agency, the Iranian Islamic Parliament will hold its first meeting since the outbreak of hostilities on May 10 via video conference. A spokesperson for the parliaments presidium stated that the parliament will focus on issues such as inflation.Iranian Foreign Ministry spokesman: Trumps "provocative behavior" and attempts to defend it cannot cover up his own shameful actions. This foreshadows a further escalation of tensions between the US and Iran.The Iranian Foreign Ministry spokesperson strongly condemned Trumps recent downplaying remarks about the US attack on Iranian oil tankers.On May 9th, the Ministry of Commerce held a special press conference to introduce the preparations for the APEC Trade Ministers Meeting. At the conference, Lin Feng, Director-General of the Department of International Trade and Economic Affairs of the Ministry of Commerce, stated that the digital economy is an important topic at this APEC Trade Ministers Meeting, and China hopes to work with all parties to deepen economic and trade cooperation in the digital field and promote digital development in the Asia-Pacific region and globally. Lin Feng pointed out that promoting pragmatic cooperation among APEC economies in the digital field has always been a priority for China. "We are working with all parties to study and promote several cooperation initiatives, including the cross-border e-commerce demonstration electronic port network, electronic bills of lading, paperless trade, artificial intelligence, and smart customs. We will also conduct a series of seminars during the APEC Trade Ministers Meeting to promote experience sharing, policy exchanges, and technological cooperation in related fields," Lin Feng revealed. He added that China will continue to make good use of the APEC cooperation mechanism to create a more open platform for all parties to participate in Asia-Pacific digital cooperation, allowing the benefits of digital economic development to reach more people.On May 9, Russian President Vladimir Putin said at a military parade commemorating the 81st anniversary of the victory in the Great Patriotic War that Russian troops participating in special military operations are fighting against "NATO-backed aggressive forces" and are still advancing.

The IMF/World Bank Meetings to Test Risk Appetite as Fed Hawks Swoon

Skylar Shaw

Oct 11, 2022 14:48

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Last week's US economic figures exceeded forecasts. The US employment data and higher-than-expected ISM Non-Manufacturing PMI statistics allowed the Fed to raise interest rates by 75 basis points in November. The World Bank and IMF have been keeping an eye on central bank and economic activities.


Since the Jackson Hole Symposium, the Fed has maintained its stance. Fed Chair Powell issued a warning in August about the Fed's commitment to achieving the target inflation rate.


Powell also dispelled any expectations of a policy change at the time by warning the markets that inflation would need to be controlled by a protracted period of below-trend growth and a weaker labor market.


The Jackson Hole speech's response from the market was identical to that of Friday's employment data. The Powell speech resulted in a 3.94% decline in the NASDAQ 100. In reaction to an increase in hiring and a drop in the US unemployment rate to 3.5% last Friday, the NASDAQ fell by 3.80%.


The cryptocurrency market, which fell by $78 billion in reaction to Powell's speech and $11.5 billion in response to the employment data, experienced a distinct situation. Notably, the employment data offers the Fed leeway to aggressively front load rates. The crypto market was more affected by US inflation data.

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