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On September 19th, according to Jubo Information, the domestic petroleum coke market performed well this week, with overall prices trending upwards. For major oil companies, manufacturers had no inventory pressure and were mainly fulfilling existing orders; supply was tight in some areas, leading to price increases for some coke. For independent refineries, market transactions fluctuated, with coke prices rising initially and then falling, and overall production and sales slightly weakening throughout the week. Increased maintenance shutdowns at coke plants this week led to a decline in the overall operating rate, and the petroleum coke market is expected to fluctuate within a range in the short term. Regarding LNG, of the 133 domestic LNG plants, 70 were under maintenance/shutdown/suspended quoting/domestic sales, resulting in an overall operating rate of 47%. Influenced by factors such as raw material gas auctions and supply-side production contraction, domestic LNG market prices fluctuated upwards this week. Multiple positive factors supported the market, leading to strong bullish sentiment and price increases from manufacturers in many regions; however, downstream demand remained weak, with companies showing increasing reluctance to purchase due to high prices, resulting in limited procurement and sluggish sales for some manufacturers, leading to price declines in some areas. The domestic LNG market is expected to consolidate in the near term.According to Politico: Anthropic, OpenAI, SpaceX AI, and Google are being sued for calling for a “slowdown” in AI development.The U.S. State Department has decided to approve the sale of $2.68 billion worth of foreign military equipment to Ukraine to support its air defense development and upgrades.On September 19th, the Shaanxi Provincial Bureau of Statistics released its report on the provinces economic performance in the first eight months of the year: industrial production steadily rebounded, consumer demand continued to be released, and the economy showed a steady and positive development trend. According to relevant personnel from the Provincial Bureau of Statistics, in the first eight months, the added value of industries above designated size increased by 4.6% year-on-year, an acceleration of 0.5 percentage points compared to the first seven months. Industrial production steadily rebounded, and product output grew steadily. Looking at the three major sectors, the added value of mining increased by 7.7% year-on-year, manufacturing by 1.5%, and the added value of electricity, heat, gas and water production and supply by 2.5%. Key industries performed well, with the added value of coal mining and washing increasing by 9.0% year-on-year and the added value of oil and gas extraction increasing by 9.7%. Product output grew steadily, with raw coal output increasing by 3.8% year-on-year and natural gas output increasing by 7.3%.September 19th - According to Shenzhen Railway authorities, the railway transportation period for this years Mid-Autumn Festival and National Day holidays will run from September 23rd to October 8th, lasting 16 days. Shenzhen Railway expects to transport 5.7312 million passengers, averaging 358,200 passengers per day, an increase of 21,500 passengers per day compared to last year, representing a 6.39% increase and setting a new record for the same period. Among them, Shenzhen North Station is expected to transport 3.856 million passengers, averaging 241,000 passengers per day, an increase of 10,400 passengers per day compared to last year, representing a 4.3% increase.

US Fed Considering CBDC, But Not Decided To Pursue or Implement

Cory Russell

Apr 15, 2022 10:40

The Federal Reserve of the United States has said that it is exploring creating a central bank digital currency (CBDC). The central bank has not yet determined whether or not to pursue or deploy a digital dollar, according to the central bank.


The Fed, on the other hand, has already issued a CBDC report emphasizing the use of stablecoins like USD Coin and Tether; the statement on Thursday is the most important to date.

Fed Exploring CBDC “Benefits and Risks”

In a tweet today, the authority said that it is looking into the possible advantages and hazards of CBDCs.


It has also produced a series of CBDC FAQs, explaining why it is contemplating it now. Given technology improvements ushering in a rush of new private-sector financial goods and services, the Fed believes it is the "appropriate moment" to examine a digital dollar.


CBDCs, according to the bank, might provide a variety of advantages. A digital dollar, for example, might give consumers and businesses a simple, electronic version of central bank money, as well as a platform for entrepreneurs to develop new financial goods and services and promote quicker and cheaper payments.

Lawmakers Critical of Fed’s Progress

US legislators questioned Fed Chair Jerome Powell in January on the pace and status of the Fed's CBDC review, which was set to be released last summer.


Fed Governor Christopher Waller stated last month that he isn't sure that a CBDC is necessary for retail consumers in particular.


"Are we actually in need of it?" That is something I have yet to be persuaded of. It's not to say I couldn't be, but I've never seen that on a retail CBDC."


Tom Emmer, a Minnesota politician, sponsored a measure in January to restrict the Fed from exercising unilateral authority over the US CBDC. The lawmaker wants the central bank to be prohibited from issuing digital dollars to people directly.