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The Federation of Automobile Manufacturers of Thailand: Domestic car sales in Thailand rose 10.60% year-on-year in May (compared to a 2.54% increase in April).The Hang Seng Tech Index continued its upward trend in the morning session, rising more than 4% by midday.The Federation of Automobile Manufacturers of Thailand: Thailands automobile production in May increased by 17.94% year-on-year (compared to a decrease of 2.69% in April).On June 29, a spokesperson for the Southern Theater Command issued a statement. Senior Colonel Zhai Shichen, spokesperson for the Southern Theater Command, stated that from June 27 to 28, the Peoples Liberation Army Southern Theater Command organized naval and air forces to conduct routine patrols in the South China Sea. The statement addressed the Philippines efforts to stir up trouble in the South China Sea by rallying external countries to organize so-called "joint patrols," undermining regional peace and stability. The Theater Command will resolutely defend national territorial sovereignty and maritime rights and interests, and firmly safeguard regional peace and stability.June 29th - The newly revised recommended national standard, "Quality of Passenger Services in Public Air Transport," will take effect on July 1st. This standard will help improve the standardization of passenger services in public air transport by guiding and improving service quality. The standard mainly includes three aspects: first, establishing general principles for passenger services in public air transport; second, clarifying the quality requirements for the entire service chain; and third, standardizing specific service content. After its implementation, this standard will help improve the service quality of the entire industry, guide the civil aviation industry to continuously optimize service processes and improve service quality, promote high-quality development of the industry, and continuously enhance the level of civil aviation services, thereby increasing the publics satisfaction and sense of gain in travel.

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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