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August 4th - Recently, the Cyberspace Administration of China (CAC) launched a special campaign called "Clean Up the Online Environment and Rectify Malicious Hype of Enterprise-Related Information." Based on letters from relevant departments and local cyberspace administrations, a number of illegal and irregular accounts that infringe upon the legitimate online rights and interests of enterprises and entrepreneurs will be dealt with severely.According to JLC Network Technology, several airlines will lower domestic fuel surcharges starting from midnight on August 5th, marking the third reduction this year. After the adjustment, adult passengers will be charged 40 yuan for flights of 800 kilometers or less, and 70 yuan for flights over 800 kilometers, a decrease of 10 yuan and 30 yuan respectively compared to before the adjustment. 1. This fee has fluctuated throughout the year: it remained low in the first quarter (10 yuan for flights under 800 kilometers, 20 yuan for flights over 800 kilometers); due to geopolitical conflicts, international crude oil and jet fuel prices rose, leading to consecutive increases in April and May, peaking in May (90 yuan/170 yuan); subsequently, with the easing of geopolitical tensions and falling oil prices, it decreased twice in June and July, finally seeing a third consecutive drop on August 5th. 2. Domestic fuel surcharges are linked to aviation kerosene prices and are determined by the National Development and Reform Commission and the Civil Aviation Administration of China based on international oil prices, which airlines then implement. Currently, it is still summer vacation, and long-distance travel is increasing; this reduction will slightly lower the cost of long-distance air travel for the public.On August 4th, Japanese Economy, Trade and Industry Minister Minoru Jonouchi stated that the cost increases caused by the Middle East conflict have so far had a limited impact on consumer prices, and offered a relatively optimistic assessment of inflation risks. Jonouchi said, "The overall Consumer Price Index (CPI) rose 1.7% year-on-year in June, indicating that the rate of price increases remains relatively moderate." He made these remarks in response to the Bank of Japans warning last week regarding the "increased risk of inflation exceeding expectations." However, Jonouchi added, "We do need to remain vigilant, as costs may gradually be passed on to food and other consumer goods prices from this summer to autumn."The China Earthquake Networks Center officially reported that a magnitude 3.4 earthquake occurred at 10:25 a.m. on August 4 in Gao County, Yibin City, Sichuan Province (28.53 degrees north latitude, 104.67 degrees east longitude), with a focal depth of 5 kilometers.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.3 occurred at 10:25 AM on August 4th near Gao County, Yibin City, Sichuan Province (28.53°N, 104.67°E). The final result is subject to the official rapid report.

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.

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