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On September 9th, Foreign Ministry Spokesperson Mao Ning held a regular press conference. An AFP reporter asked about the US cybersecurity company Califs claim that it had developed a hacking tool capable of infiltrating the WeChat platform, and that the alleged security risks had been fixed. What is the Foreign Ministrys comment on this? Mao Ning replied, "I am not very familiar with the company you mentioned."On September 9th, Foreign Ministry Spokesperson Mao Ning hosted a regular press conference. A reporter asked: We have noticed some recent voices hyping up the idea that China is "removing the ladder" from other developing countries, arguing that China is only focused on its own development and has pulled away the "ladder" for the development of other developing countries. What is the spokespersons comment on this "ladder-removing theory"? Mao Ning stated that China has never removed the "ladder" for the development of any country, but rather is committed to building it. Through high-quality joint construction of the Belt and Road Initiative, we help participating countries address their infrastructure shortcomings. We provide cost-effective industrial equipment and technological products, share experience and technology, and help developing countries reduce their industrial development costs. Mao Ning emphasized that self-reliance and helping others are the core values of Chinas foreign cooperation, and the so-called "ladder-removing" argument has no place in developing countries. China will always uphold the concept of mutual benefit, win-win cooperation, and common development, acting as a trustworthy partner for developing countries and contributing to the revitalization of the global South through its own development.September 9th – On September 9th, Foreign Ministry Spokesperson Mao Ning hosted a regular press conference. A reporter from Japan Broadcasting Corporation (NHK) asked, “The 18th BRICS Summit will be held in India this weekend. Who will lead the Chinese delegation?” Mao Ning replied, “We will release information on this matter promptly. You can stay tuned.”UN Special Envoy: We condemn the Houthi attacks on Saudi civilian and infrastructure, economic and energy facilities.TCL CSOT: The 13.3-inch LCD screen used in the Xiaomi Mi Pad 9 Pro Max is exclusively supplied by TCL CSOT.

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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