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On July 13th, it was reported that on July 8th, 2026, Shenzhen Yuejiang Technology Co., Ltd. and Wanbang Digital Energy Co., Ltd. officially signed a strategic cooperation agreement. The two parties will jointly implement the application of embodied intelligent robots in the entire automatic charging process, targeting typical scenarios such as charging facilities, energy storage systems, and smart energy management. This will connect the entire chain from "intelligent perception" to "precise execution," creating a full-stack solution for automatic charging and intelligent operation and maintenance adapted to complex working conditions, and promoting the verification and commercialization of embodied intelligent technology.On July 13th, the State Council approved the "15th Five-Year Plan for Expanding Consumption." The plan mentions streamlining and optimizing unreasonable restrictive measures. It promotes the shift from purchase-based management to usage-based management of automobile consumption, providing car purchase guarantees for families who have been unsuccessful in the lottery for vehicles for a long time, and exploring differentiated vehicle purchase quota management methods for urban and suburban areas. It supports local governments in adjusting and optimizing real estate policies according to their specific circumstances to better meet residents rigid and improved housing needs. It deepens the reform of the housing provident fund system, expands its scope of use, and strives to meet the diverse housing needs of contributors at different stages. It optimizes the approval management of performing arts activities, promotes "one-stop" joint approval by departments for large-scale public events and online processing throughout the entire process, and strictly implements the responsibility system for content review at the premiere location of touring performances.On July 13th, the State Council approved the "15th Five-Year Plan for Expanding Consumption." The plan mentions promoting high-quality development of digital consumption, further advancing "artificial intelligence + consumption," and implementing a digital consumption enhancement action. It aims to expand digital product consumption by increasing the effective supply of next-generation intelligent terminal products such as AI-powered mobile phones and computers, smart wearables, intelligent robots, and desktop 3D printing equipment; accelerate the research and development and interconnection of intelligent security and video care systems; and conduct pilot programs for the access and road use of intelligent connected vehicles. It also aims to enhance digital service consumption by leveraging technologies such as artificial intelligence and virtual reality to empower life services and scenic areas; promote the integration of artificial intelligence with education, healthcare, culture, tourism, sports, and other fields; and expand the application scenarios of intelligent systems. Finally, it aims to innovate digital content consumption by launching more high-quality digital cultural and museum products; strengthening the supply of ultra-high-definition content for radio, television, and online audiovisual media; and developing new film formats such as virtual reality films and LED digital cinemas.Ukrainian Deputy Prime Minister: The Russian attack on the Togo-bound civilian merchant ship resulted in the deaths of three crew members and injuries to five others.JPMorgan Chase raised its price target for Marathon Petroleum (MRO.N) from $257 to $300.

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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