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RIA Novosti: Russian forces have launched a large-scale attack on Ukraines energy and military industrial facilities.Morgan Stanley predicts that the overall inflation rate for the December CPI report, to be released later today, will reach 0.37% month-on-month and 2.7% year-on-year. Core inflation is expected to be 0.36% month-on-month and 2.8% year-on-year. Morgan Stanley cites two key reasons for this relatively hawkish forecast: firstly, the November survey data was collected later, and secondly, the inflation level in cities using the bi-monthly survey model is higher. According to their calculations, these two factors will push the December core inflation rate up by approximately 11 basis points. Overall, Morgan Stanley expects the report to show a significant rebound in price pressures after the recent period of weakness. This could reverse the market narrative that the "inflation decline is merely paused, not restarted."On January 13th, data from the China Automobile Dealers Association showed that in December 2025, the national used car market saw 1.8711 million transactions, a 7.15% increase month-on-month and a 1.53% decrease year-on-year, with a transaction value of 120.672 billion yuan. From January to December 2025, the cumulative used car transaction volume reached 20.108 million vehicles, a 2.52% increase year-on-year, with a cumulative transaction value of 1,289.79 billion yuan.Google will develop and manufacture high-end mobile phones in Vietnam this year.On January 13th, Bio-Thera Solutions announced that its second board of directors held its 18th meeting on October 8th, 2024, and approved the "Proposal on Signing an Authorization License, Production, Supply and Commercialization Agreement for BAT2206". According to the agreement, Bio-Thera Solutions recently received a one-time milestone payment of US$2.5 million from Jireh Pharmaceuticals. This payment further replenishes the companys cash reserves and supports the companys subsequent pipeline development and internationalization strategy. As of the date of this announcement, BAT2206 injection has been approved for marketing by the U.S. Food and Drug Administration and the European Medicines Agency, with the registered brand name STARJEMZA® in the U.S. and Usymro® in Europe; a marketing application has been submitted to the National Medical Products Administration of China and is currently under review.

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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