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The main contract for the container shipping index (European route) reversed its gains and fell during the day, with the current decline widening to 1.97% at 3779 points, after rising by more than 3% earlier.On June 2nd, local time, a bear appeared and attacked people in an office building and nearby residential area in Sasakino, Fukushima City, Fukushima Prefecture, Japan, injuring four people. The number of bear attacks on people in Japan has been increasing in recent years. Preliminary statistics released by the Japanese Ministry of the Environment in early April this year showed that from early April last year to the end of March this year, a total of 238 people were attacked by bears nationwide, of whom 13 died, both figures being record highs. Current data from the Japanese government estimates that there are more than 19,000 Asiatic black bears in the Tohoku region and 11,600 brown bears in Hokkaido.Tencent Holdings (00700.HK) continued its upward trend, with intraday gains widening to 4%. This followed earlier reports that Tencent was close to launching a WeChat AI assistant.U.S. stock index futures fell, with S&P 500 futures down 0.5%, Nasdaq 100 futures down 0.75%, and Dow Jones futures down 0.47%.June 2nd - According to Yonhap News Agency on June 1st, data released by the Korea Automobile Importers Association that day showed that Chinese-made cars ranked third among newly registered imported vehicles in South Korea in April, surpassing Japanese-made cars for the first time in history. The data showed that in April, European-made cars ranked first in new car registrations in South Korea with 16,800 units, followed by American-made cars (13,600 units), Chinese-made cars (2,023 units), and Japanese-made cars (1,974 units). Yonhap News Agency stated that this is the first time Chinese-made cars have surpassed Japanese-made cars in the South Korean imported car market. South Korean media generally regard this ranking as an important signal of a shift in the South Korean imported car market landscape. The *Korea Economic Daily* reported that Chinese car brands are rapidly increasing their presence in the South Korean market.

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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