EUR/USD 1.15599
0.014%
Gold 4515.24
0.202%
Oil 90.716
0.259%
USD/JPY 159.494
0.020%
GBP/USD 1.33537
-0.076%
GBP/JPY 212.989
0.007%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Euro Stoxx 50 futures fell 0.6%, German DAX futures fell 0.8%, and UK FTSE 100 futures fell 0.2%.S&P 500 futures fell 0.38%, and Nasdaq futures fell 0.4%.March 26 – The ongoing conflict between the US, Israel, and Iraq has strained global energy supplies, prompting the Philippines, a country heavily reliant on energy imports, to seek oil imports from countries sanctioned by the US. Philippine Ambassador to the US, José Manuel Romúaldez, told Reuters that the Philippines is seeking a US "exemption" to allow it to purchase oil from US-sanctioned countries. When pressed further about whether oil imports from Venezuela and Iran were under discussion, Romúaldez replied that "all options are being considered." Regarding the US State Departments response to the Philippine request, Romúaldez said, "The work is underway."On March 26, Guo Yang, Director of the Social Security Department of the Ministry of Finance, stated at a press conference held by the State Council Information Office that the government will provide subsidies to urban and rural residents who participate in long-term care insurance in accordance with regulations. The central governments subsidies to local governments in 2026 will be pre-allocated based on the estimated number of participants in each region, and will be settled in the following year based on the actual number of participants, ensuring that funds are fully disbursed.March 26 – At 11:00 AM local time today (March 26), according to Japans Ministry of Economy, Trade and Industry, the release of Japans national oil reserves began at the Kikuma National Oil Reserve Base in Imabari City, Ehime Prefecture. The Japanese government plans to release reserves from nine bases nationwide, including Kikuma, throughout this month, with two more added in April, ultimately reaching eleven bases across the country. The total estimated release is approximately 8.5 million kiloliters, equivalent to about one months domestic oil consumption. The released national oil reserves will be sold by the Japanese government to the four major oil wholesalers for approximately 540 billion yen, who will then process them into gasoline and other refined petroleum products for the market. In addition, the Japanese government also plans to cooperate with oil-producing countries to release the "Joint Oil Reserves" stored within Japan, equivalent to about five days worth of consumption, this month.

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."


截屏2022-04-07 上午9.59.45.png

Suggestion