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September 5th - US President Trump posted that it has been an incredible summer for the American tourism industry. Americans have traveled nearly 300 billion miles, our national parks welcomed 78 million visitors, and millions more traveled by air. The FIFA World Cup alone brought in over $18 billion for our economy and supported over 160,000 jobs! Tourism means jobs, investment, and billions of dollars flowing into American businesses and communities. We are cutting red tape and modernizing air travel to make it easier to travel and do business in the United States. America is opening its doors to the world—and the best is yet to come.On September 5th, U.S. District Judge Trevor McFadden rejected a temporary restraining order application filed by Stars and Stripes publisher Max Laidler, editor-in-chief Eric Slavin, and Middle East journalist Lara Colter on September 4th, allowing the Department of Defense to proceed with the dismissal of the three. The judge ruled that the three had failed to demonstrate that their First Amendment rights were likely violated. The three had previously sued the Department of Defense, claiming they were being retaliated against for publicly supporting Stars and Stripes editorial independence and related reporting. In his ruling, Judge McFadden stated that while Slavin and Colter had been granted permission to give interviews, existing materials showed they were making these statements in the course of official duties, not as private citizens. Regarding Laidler, the judge stated that his failure to follow orders was not protected by the First Amendment.On September 5th, US President Trump posted: "Great news! Our booming economy added 162,000 jobs in August to honor the great American workers we celebrate this year (and every year!) for Labor Day." This strong figure is almost three times the prediction of so-called "economists" in a Bloomberg survey—people still suffering from "Trump mania." The impact of Trumps economic boom is evident across numerous industries. This administrations fair trade policies, implemented through a superb tool called "tariffs," have reshaped the global economic landscape, bringing manufacturing jobs back to the US on an unprecedented scale. Factory construction is booming as businesses utilize the "full deduction" policy (full deduction within one year). Soon, these factories will be packed with American workers.September 5th - The 5th China-Canada (China-Canada) Defence Working Meeting was held in Canada on September 4th. Both sides exchanged candid and in-depth views on international and regional issues of common concern, expressed their positive desire to strengthen practical exchanges and cooperation between the two militaries, and enhanced mutual understanding and trust.September 5 - According to the Lebanese National News Agency on the 4th, Israel launched airstrikes on several areas in southern Lebanon that day, resulting in at least 5 deaths and 23 injuries.

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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