EUR/USD 1.15969
-0.093%
Gold 4587.42
-0.620%
Oil 59.724
1.015%
USD/JPY 158.060
-0.349%
GBP/USD 1.33817
-0.003%
GBP/JPY 211.516
-0.341%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The German DAX 30 index closed down 87.88 points, or 0.35%, at 25286.63 on Friday, January 16; the UK FTSE 100 index closed down 8.89 points, or 0.09%, at 10230.05 on Friday, January 16; the French CAC 40 index closed down 54.18 points, or 0.65%, at 8258.94 on Friday, January 16; European... The Stoxx 50 index closed down 14.99 points, or 0.25%, at 6026.15 on Friday, January 16; the Spanish IBEX 35 index closed up 59.93 points, or 0.34%, at 17702.63 on Friday, January 16; and the Italian FTSE MIB index closed down 83.27 points, or 0.18%, at 45766.50 on Friday, January 16.On January 17th, U.S. Treasury prices fell as Trump hinted at nominating someone other than National Economic Council Director Hassett to succeed Powell, and traders reduced their expectations for two U.S. interest rate cuts in 2026. The decline in U.S. Treasuries pushed the two-year yield up as much as 5 basis points to 3.61%, the highest level since the Feds last rate cut in December. Following Trumps comments on Hassett, short-term interest rate contracts reflected a decreased probability of two 25-basis-point rate cuts by the Fed this year. Meanwhile, the Treasury market continued to be troubled by the December jobs data released a week earlier, prompting Wall Street banks that had previously predicted a rate cut at the Feds next meeting on January 28th to abandon that view. Morgan inflation economists predict that despite the change in Fed leadership, the Fed will not cut rates further. John Fath, managing partner of BTG Pactual Asset Management U.S., said, "The previous trade was betting that whoever becomes the next Fed chairman will be dovish. That has reversed in the last few days."January 17th - According to US media reports, as the world awaits a ruling on Trumps signature tariff policy, the US Supreme Court has set January 20th (Tuesday) as the next ruling day, at which time at least one ruling is likely to be issued. As is customary, the court did not specify which rulings are ready to be issued, only stating that a decision may be delivered when the justices appear in court at 10:00 AM Washington time (11:00 PM Beijing time). If a ruling on the tariff case is not issued next week, it may take at least another month. If the Supreme Court rules against Trump on the tariff issue, it will weaken a core pillar of his economic agenda and represent his biggest legal setback since returning to the White House. The focus of the dispute is the tariffs he imposed on April 2nd, "Liberation Day," a policy that imposes tariffs of 10% to 50% on most imported goods and imposes tariffs on countries such as Canada and Mexico under the pretext of addressing fentanyl trafficking.On January 17th, Federal Reserve Governor Bowman stated, "The U.S. economy has shown resilience, and wage growth is currently in line with the 2% inflation target. The Fed has made significant progress in reducing inflation. Underlying inflation is approaching the Feds 2% target." She expressed concern about the fragility of the labor market: "Under no improvement in demand, businesses may begin to lay off workers. Growth is expected to remain solid, inflation will decline further, and the labor market will stabilize. Given the current risks, the Feds policy should focus on supporting the labor market. The Feds policy-making should be forward-looking and driven by economic forecasts." Current monetary policy is at a "moderately restrictive" level. Given the risks in the labor market, the Fed should be prepared to cut interest rates again. Considering these risks, the Fed should not signal a pause in the rate-cutting cycle.Federal Reserves Collins: Congress granted the Federal Reserve independence, enabling it to make tough decisions.

Al Gore asserts that climate change action has reached a "tipping point"

Haiden Holmes

Sep 21, 2022 10:35

26.png


Al Gore, a former vice president of the United States and co-founder of Generation Investment Management, stated in an interview with Reuters that the world has reached a "positive tipping point" in the fight against climate change as rising oil and gas prices prompt governments to decarbonize more rapidly.


His examples included the $430 billion Inflation Reduction Act, which is widely regarded as the largest climate package in U.S. history, and Australia's promise earlier this month to decrease carbon emissions by 43 percent by 2030 and to net zero by 2050.


Gore anticipated policy shifts on climate change from Brazil following an impending election and from China following the resumption of talks between President Joe Biden and Chinese Vice Premier Liu He at the November G20 summit in Indonesia.


The war in Ukraine, which Russia refers to as a "special military operation," has caused oil and gas prices to spike, he said, adding that he was concerned about the efforts of some nations to increase fossil fuel production in response.


Gore stated that there is no such thing as a clean fossil fuel, just as there is no such thing as a healthy cigarette. According to the authors, "we do not want to see investments in fossil fuel infrastructure that A will not alleviate the short-term crisis and B would guarantee decades of increasing emission levels."


He stated, "There is evidence nearly everywhere in the world" of the accelerating rate of change, and added that worsening weather events were also pushing the imperative to act.


Al Gore stated that heatwaves in China, floods in Pakistan, and drought in Europe are examples of how "Mother Nature has joined the climate discussion."


In both "An Inconvenient Truth" (2006) and "An Inconvenient Sequel" (2017), Al Gore, the former vice president of the United States, argues that the struggle against climate change is a moral one.


In 2007, he shared the Nobel Peace Prize for his efforts to address climate change while serving as the chairman of Generation Investment Management, a London-based firm that invests in sustainable public and private markets and conducts research.


He said that some governments are removing fossil fuel facilities with decades of remaining life due to the declining cost of renewable electricity, while others are considering banning the sale of fossil fuel-powered automobiles.


"When the technology provides three times as many jobs per invested dollar as investments in fossil fuels, a very good tipping point will be reached," he stated.


In its most recent annual sustainability trends report, published on Wednesday, Generation anticipated that annual investments in the clean economy would surpass $1 trillion over the next few years.


According to the research, while this is less than what is required to keep global warming at 1.5 degrees Celsius over the pre-industrial average, it is increasing "at a rapid rate."

Suggestion