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February 11th - The National Health Commission and 11 other departments jointly issued the "Administrative Measures for the National Essential Medicines List" today. Compared with the previous document, the "Administrative Measures for the National Essential Medicines List" clarifies that adjustments to the types and quantities of essential medicines will be made based on changes in disease patterns, clinical application practices, changes in drug standards, and new drug launches, adhering to the principles of giving equal importance to traditional Chinese and Western medicine and prioritizing clinical application. It also comprehensively considers factors such as my countrys basic medical and health service needs, basic medical security levels, and drug supply security. The measures standardize the dynamic adjustment mechanism, strengthen the functional positioning of essential medicines, adhere to regular evaluation and dynamic management, and stipulate that the adjustment cycle should generally not exceed three years, with adjustments possible as needed.February 11th - The National Health Commission and 11 other departments jointly issued the "Administrative Measures for the National Essential Medicines List" today. Compared with the previous document, the "Administrative Measures for the National Essential Medicines List" adds legal and policy basis. It adds the "Basic Medical and Health Care and Health Promotion Law," the "Drug Administration Law," and other higher-level laws as legal basis, and aligns with policies such as the "Opinions of the General Office of the State Council on Improving the National Essential Medicines System" and the "Opinions of the General Office of the State Council on Further Improving the Supply and Price Stabilization of Shortage Drugs." The list structure is rationally optimized. National essential medicines are divided into chemical drugs and biological products, and traditional Chinese medicine (processed medicinal herbs and prepared Chinese medicines). Chemical drugs and biological products are mainly classified according to clinical pharmacology, while prepared Chinese medicines are mainly classified according to function.February 11th - The Peoples Bank of China released its 2025 financial market operation report. In 2025, the amount of commercial bill acceptances reached 42.7 trillion yuan, and the amount of discounting reached 33.9 trillion yuan. As of the end of 2025, the outstanding balance of commercial bill acceptances was 21.2 trillion yuan, an increase of 7.2% compared to the end of 2024; the outstanding balance of discounting was 16.5 trillion yuan, an increase of 11.2% compared to the end of 2024.The Russian Foreign Ministry stated that if the United States complies with the quantity limits of the New START Treaty, Russias position of suspending its actions that exceed the treatys limits will remain unchanged.On February 11, the State Administration for Market Regulation released the newly revised "Measures for the Administration of Food Recalls." Compared with the current measures, the new measures strengthen the primary responsibility of food producers and operators. They explicitly require food producers and operators to establish and implement a food recall management system, and stipulate that food operators, operators of centralized food trading markets, lessors of food stalls, organizers of food exhibitions, and third-party online food trading platform providers have an obligation to cooperate with recalls.

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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