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Sources say Israel launched an attack on the outskirts of Damascus, the Syrian capital.According to Tasnim News Agency: Multiple explosions have occurred in the Syrian capital.On August 28th, in response to US President Trumps executive order signed on the afternoon of August 27th, renaming Lake Ontario on the US-Canada border as "Lake of the United States," Canadian Prime Minister Carney posted on social media, stating, "The name Lake Ontario has been around for over 400 years, predating the formation of the Canadian Confederation and the publication of the US Declaration of Independence. We know that the United States is changing. Their trade relations, foreign policy, national monuments, and even the names of their various bodies of water (hydrological names). And Canadians know, respecting reality, that its name is Lake Ontario—it was, it is, and it always will be."August 28th - According to foreign media reports, court documents and related footage suggest that media mogul Rupert Murdochs long-held desire to reunite Fox and News Corp. may become a reality through a potential merger. Discussions about a possible renewed merger have surfaced in recent weeks as court documents related to a family succession dispute that began in 2023 were unsealed and testimony from a lawyer was disclosed. It is understood that in 2022, Rupert Murdoch, then chairman of both Fox and News Corp., began expressing interest in reuniting the two companies less than a decade after splitting them. Murdoch drafted a letter to the boards of both companies stating that the family trust would not "support any other sale, merger, or similar transaction involving companies other than these two." When representatives of Murdochs daughter, Elizabeth, questioned the restructuring, Murdoch immediately threatened via text message: "I will force it if necessary." The merger failed due to investor opposition, but court proceedings in June suggest Murdoch may try again. At a hearing on whether court testimony should be made public, Lachlan Murdochs lawyers argued that any discussions related to the merger should be kept confidential or deleted because "this could still happen in the future and open a new chapter."The Dow Jones Industrial Average rose 104.67 points, or 0.20%, to close at 53,568.55 on Thursday, August 27; the S&P 500 rose 55.10 points, or 0.72%, to close at 7,730.80; and the Nasdaq Composite rose 411.16 points, or 1.57%, to close at 26,541.35.

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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