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On August 19, French Foreign Minister Jean-Michel Barrow stated on social media that France does not rule out further sanctions against Israeli settlers in the West Bank, adding that "all options are under consideration." Barrow described the current situation in the West Bank as "despicable," and noted that France had previously pushed for sanctions against settlers who have committed violence, as well as the entities, companies, and organizations providing support. Barrow also stated that recent remarks by Israeli National Security Minister Ben-Gevilé regarding Gaza were "unacceptable and inhumane." France had previously imposed sanctions on Ben-Gevilé.The main Shanghai gold futures contract rose 2.00% intraday, currently trading at 968.60 yuan/gram.August 19 - According to Palestinian sources, Israeli forces conducted military operations in several locations in the West Bank and Jerusalem on the 19th, arresting at least 31 Palestinians, including Palestinian Authority Minister for Jerusalem Affairs Ashraf Awar. Reports indicate that Israeli forces raided Awars residence in the Silwan district, south of the Al-Aqsa Mosque in Jerusalems Old City, and arrested him. Awar had been banned from entering the West Bank by Israeli authorities in January of this year. The Palestinian Authority issued a statement saying that Awars arrest was the latest in a series of restrictive measures imposed by Israeli authorities on Palestinian officials in Jerusalem. The Israeli military has not yet issued a statement.On August 19, Houthi military spokesman Sari stated that the group has adopted three "strategies": responding to a blockade with a blockade, striking Saudi military strongholds (regardless of their location), and defending Yemeni sovereignty. Since announcing a ban on Saudi maritime navigation on July 20, the Houthis have attacked eight Saudi oil tankers—five in the Red Sea and three in the Gulf of Aden and the Arabian Sea. He claimed the group has also blocked the passage of 48 Saudi oil tankers and forced them to turn back, including 34 in the Arabian Sea and the Indian Ocean and 14 in the Red Sea. The Houthis have carried out nine military operations targeting Yanbu, Najran, Jizan, Abha, and oil supply facilities in Saudi Arabias Eastern Province, and 14 operations against what they claim are Saudi military strongholds in Ruwek, Abul, Wadiyah, Marib, and Muhah. He warned Saudi Arabia against further escalation, stating, "Any full-scale escalation will lead to a full-scale escalation." Sari stated that Saudi Arabias only option is to lift the blockade, end the aggression, withdraw foreign troops, and return Yemeni resources to the Yemeni people.August 19th - According to the National Meteorological Center, a tropical disturbance in the northern South China Sea developed into a tropical depression on the afternoon of the 19th. Affected by this disturbance and the southwest monsoon, parts of Hainan Island, southern Guangxi, Guangdong, Fujian, Taiwan Island, and Zhejiang will experience heavy rain or torrential rain over the next three days. The National Meteorological Center issued a blue rainstorm warning at 18:00 on August 19th. Following comprehensive assessment and emergency consultation, the China Meteorological Administration activated a Level IV emergency response for major meteorological disasters (rainstorms) at 20:00 on August 19th.

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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