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On June 10th, the Ministry of Natural Resources, together with the Ministry of Public Security, the State Taxation Administration, the State Administration for Market Regulation, and the State Financial Supervision and Administration Bureau, jointly issued a "Notice on Ensuring Efficient Processing of Enterprise Real Estate Purchase and Transfer Registration." The notice focuses on the entire process of enterprise real estate purchase and transfer registration, deepening the "transfer with collateral" reform and reducing the cost of "bridging" funds for enterprises. The notice points out that various models should be flexibly adopted according to local conditions, achieving seamless connection between new loans and loan repayments by merging transfer registration and mortgage registration. It promotes "transfer with collateral" between banking financial institutions. It encourages local governments to introduce pre-registration to prevent the risk of outstanding mortgages, protect the legitimate rights and interests of both the buyer and seller, as well as the new and old banks, and safeguard financial security.U.S. officials said the U.S. struck nearly 20 targets in Iran.U.S. officials said initial assessments indicate that almost all of the missiles and drones launched by Iran were intercepted. There have been no reports of injuries to U.S. personnel or damage to known U.S. military facilities.On June 10th, the State Council Taiwan Affairs Office held a regular press conference. A reporter asked: The 18th Straits Forum is about to be held. Could you please introduce the progress of preparations and which Taiwanese guests will attend this years Straits Forum? Spokesperson Zhang Han stated that the 18th Straits Forum will be held in Xiamen on June 13th. Representatives from various sectors of Taiwan, including Chang Jung-kung, Vice Chairman of the Kuomintang, will attend the forum. Currently, all preparations for the forum are basically complete, and a series of forum activities are being carried out in various parts of Fujian. This years forum continues to focus on and serve grassroots and youth groups, allowing the fruits of cross-strait integration and development to benefit more compatriots on both sides of the strait.According to Jordanian state television, the Jordanian armed forces claimed to have intercepted and shot down five missiles launched from Iran and heading towards Azraq. Debris fell after the missiles were intercepted, but no casualties or damage were reported.

The Devil Is In The Details: Gold Analysis - Federal Reserve Minutes

Larissa Barlow

Apr 07, 2022 10:33

Analyses of Federal Reserve Minutes 

While both the FOMC statement and Chairman Powell's press conference provide market participants with information about the FOMC's updated and revised monetary policy, it is the release of the minutes that provides investors with significantly greater clarity and understanding. The devil, as they say, is in the details.

 

The Federal Reserve issued the official minutes from its March FOMC meeting today, providing insight into the central bank's current plans to begin unwinding its balance sheet assets. Beginning in March 2020, the Federal Reserve will add around $4.6 trillion to its balance sheet by purchasing $120 billion monthly in mortgage-backed securities ($40 billion) and US Treasury securities ($80 billion), bringing their total to just over $9 trillion.

 

According to Federal Reserve Governor Lael Brainard, the Fed intends to employ a mix of interest rate rises and a quick run-off of the balance sheet to bring US monetary policy closer to neutral later this year.

 

However, the minutes released today imply that the Federal Reserve will unwind around $3 trillion over the next three years, reducing its $9 trillion balance sheet to $6 trillion. While the Fed appears to be indicating a quick runoff of its balance sheet, the reality is that the Federal Reserve's balance sheet will be nearly $2 trillion larger than it was prior to the epidemic.

 

"Participants continued their discussion on plans to reduce the size of the Federal Reserve's balance sheet in a manner consistent with the methodology outlined in the Committee's Principles for Reducing the Size of the Federal Reserve's Balance Sheet, announced following its January meeting."

 

Additionally, the minutes stated, "While no decision was made regarding the Committee's plan to reduce the Federal Reserve's balance sheet at this meeting, participants agreed that significant progress had been made on the plan and that the Committee was well positioned to begin the process of reducing the balance sheet's size as soon as after the conclusion of its upcoming May meeting."


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