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On March 29th, Fox News released a poll showing that nearly two-thirds of American voters surveyed are dissatisfied with President Trumps administration, the highest disapproval rate during his two terms. The conservative media outlets poll of 1,001 registered voters showed a 59% disapproval rate for Trump, an 8-point increase from a year ago, marking not only the highest disapproval rate since the start of his second term but also surpassing the record set during his first term; the approval rating, however, fell from 49% a year ago to 41%. The poll randomly sampled respondents from the U.S. voter registration list. Among Republican supporters, Trumps approval rating was 84%, down 8 percentage points from the same period last year, the lowest since the start of his second term. His disapproval rates among Democratic voters and independent voters reached 95% and 75%, respectively.Ukrainian President Zelensky: I have arrived in Jordan for an “important meeting”.On March 29th, amidst the global energy crisis and soaring fuel prices, Egyptian Prime Minister Madbouly announced on the 28th a series of energy-saving measures to cope with the impact. Egypt will slow down the implementation of large-scale national projects involving high gasoline and diesel consumption for at least two months, while reducing fuel rations for all government vehicles by 30%. Madbouly also stated that, except for the service and manufacturing sectors, Egypts public and private sectors will implement remote work every Sunday in April, the first working day of each week. Given Egypts heavy reliance on energy imports, the government had previously raised fuel prices and public transportation fares to cope with global energy market volatility.March 29th - According to disclosures by the Hong Kong Stock Exchange, Manycore Tech Inc., a space intelligence unicorn company, updated its post-hearing information set, signifying that the company has successfully passed the Hong Kong Stock Exchanges listing hearing. JPMorgan Chase and CCB International are the joint sponsors for this IPO. If the listing is successfully completed, Manycore Tech will become the "worlds first listed space intelligence company," and also the first of the "Six Little Dragons of Hangzhou" to complete an IPO.March 29th - Starting today (March 29th), many European countries have begun observing daylight saving time, meaning that trading hours in European financial markets will be one hour earlier than during winter time. Specifically, starting next Monday, European stock trading hours will be 15:00-23:30 Beijing time. The release times of economic data from various European countries will also be one hour earlier than during winter time. Please take note.

Yellen of the US Treasury Thinks the Fed Can Reduce Inflation Without Sparking a Recession

Skylar Shaw

May 13, 2022 10:14

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Because of the healthy employment market and household balance sheets in the United States, low loan costs, and a strong banking sector, US Treasury Secretary Janet Yellen thinks the Federal Reserve can drive inflation down without precipitating a recession.


"All of those characteristics imply that the Fed has a route to bring down inflation without precipitating a recession," Yellen told the House Financial Services Committee on Thursday. "I know it will be their mission to try to do that."


During a hearing on the activities of the Financial Stability Oversight Council, Yellen said that inflation is the "No. 1 economic challenge" confronting the country and the Biden administration.


"It has a significant negative effect on many disadvantaged families." And we're laser-focused on combating inflation," Yellen added, reiterating the Biden administration's attempts to keep gasoline costs down by releasing significant amounts of crude oil from the Strategic Petroleum Reserve and reopening clogged U.S. ports.


Republican senators tried to persuade her to blame rising inflation on the Biden administration's $1.9 trillion COVID-19 relief spending plan last year, but she refused.


Yellen said that a number of reasons were driving up inflation, including energy price hikes as a result of Russia's war of Ukraine and ongoing pandemic-related supply chain issues, as well as high inflation in other nations.


"It does illustrate that there are elements other than expenditure that are crucial to inflation in the United States," she added.


The labor market in the United States remained tight on Thursday, with producer price inflation slowing from 1.6 percent in March to 0.5 percent in April, according to Labor Department data.

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