Category: Flash News

On January 8th, Matthew Luzzetti, an economist at Deutsche Bank, stated that the four regional Federal Reserve chairpersons who will gain voting rights in the Federal Reserve’s FOMC this year may make more controversial policy decisions. Chicago Fed President Goolsby is seen as one of the most dovish voices on the committee, while St. Louis Fed President Musalem and Kansas City Fed President Schmid are seen as potential hawks. It is worth noting that neither Musalem nor Schmid had previously voted on the committee. Luzzetti said, “The higher the degree of diversification, the greater the possibility of divergence, especially because if inflation continues to remain high and the labor market is weakening, this will create tension in the Fed’s dual mission and make its response vague

On January 8th, US President elect Trump said at a press conference held at Mar-a-Lago Estate in Florida on January 7th that NATO member countries are required to increase their defense spending as a percentage of their gross domestic product (GDP) from the current standard of 2% to 5%. According to NATO regulations, member states are required to spend at least 2% of their GDP on defense each year. Among the current 32 NATO member states, 23 countries have met the standards.

On January 8th, Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs of the United Arab Emirates, met with Israeli Foreign Minister Gideon Saar in Abu Dhabi to discuss the latest developments in bilateral relations and the region. Al Nahyan stated that the Middle East is facing unprecedented tension and instability, and the top priority is to end the tension and violence, protect civilian lives, and make every effort to facilitate emergency humanitarian aid. Al Nahyan also stated that the UAE is firmly committed to supporting Palestine and its right to self-determination, and will continue to provide humanitarian assistance to it.

On January 8th, a winter storm is expected to hit Texas and other states later this week, casting another shadow of large-scale power outages and traffic chaos over the southern United States. Peter Mullinax from the US Weather Forecast Center said that southern Oklahoma and Texas, including Dallas, will receive about 4 to 6 inches (10 to 15 centimeters) of snow and ice, covering trees, roads, and power lines from San Antonio to northern Louisiana. Mullinax believes that this storm will be extremely destructive, producing a large amount of snow and ice accumulation. The cold wave will begin to gather on Wednesday evening, strengthen on Thursday, and move eastward on Friday, sweeping across the entire southern region. The storm may cause widespread power outages, causing traffic paralysis in the southern United States where snow removal machines and salt trucks are rare, resulting in flight suspensions or delays. Although temperatures are unlikely to drop to the extremely low levels seen in February 2021, which resulted in over 200 deaths and millions of people experiencing days of power shortages due to extreme weather, the fragile power grid in Texas still raises concerns. The Texas State Grid Operator’s Reliability Commission warned on Monday that the storm could lead to power shortages.

On January 8th, Slovak Foreign Minister Branal had a phone conversation with Hungarian Foreign Minister Szijjardo regarding the interruption of natural gas transmission from Ukraine to Slovakia. The Slovak Ministry of Foreign Affairs stated in a press release that both sides are concerned about the serious impact on the Central European region. Branal stated that this issue not only affects Slovakia, but also other countries. Branal emphasized that Slovakia may lose at least 500 million euros in transit fees. This situation must be resolved by the state, but the loss of funds may mean that everyone has to pay a higher price. Both sides call for compliance with the alliance agreement between the EU and Ukraine, which includes commitments to protect energy transportation routes. Both sides believe that Ukraine’s unilateral decision to stop transit and transportation of natural gas will not only affect the economies of EU member states, but may also have an impact on Ukraine’s integration into the EU.

On January 8th, Polish Minister of Climate and Environment Paulina Hennig Kloska announced on January 7th local time that Poland is ready to provide power supply support to Ukraine after Slovak Prime Minister Fizo threatened to stop supplying electricity to Ukraine. Poland will be able to increase its electricity sales to Ukraine, but only if Ukraine is willing to do so. Our operators are ready, it’s just a matter of whether Ukraine wants or must use Polish electricity, “said Paulina Hennig Kloska on state television

On January 8th, federal judge Erin Cannon, who is responsible for the trial of US President elect Trump’s “classified documents” case, ruled on January 7th local time to temporarily prevent the US Department of Justice from releasing reports related to the “classified documents” case prepared by special prosecutor Jack Smith. Trump and two other co defendants in the “classified documents” case have previously submitted an urgent motion to prevent the Department of Justice from releasing relevant case reports. Irene Cannon ruled that her order “remains in effect for three days after the 11th Circuit Court makes a ruling on an emergency motion, unless otherwise ordered by the 11th Circuit Court,” meaning that it will be up to the appellate court to decide whether a special prosecutor’s report can be issued. During this period, Cannon’s order will remain in effect until the 11th Circuit Court makes a ruling on the emergency motion.

On January 8th, Atlanta Fed President Raphael Bostic stated that given the uneven progress in combating inflation, policymakers should remain cautious and prefer to keep interest rates at a higher level in order to achieve price stability goals. Bostic stated in a podcast recorded on December 9th and released on Tuesday that he expects the inflation rate to continue to gradually decline this year and is expected to reach the Federal Reserve’s target of 2%. Although progress may seem stagnant or price increases may be rapid at times, inflationary pressures will ease. Bostic said, ‘Considering the volatility of inflation indicators, I believe decision-makers should maintain a more cautious attitude.’. I want to ensure that we receive the right signal and that our policies are calibrated in a timely manner based on this correct signal. If I have to make a mistake, I would rather make it on high interest rates, “Bostic said in the podcast. I want to ensure that the inflation rate reaches 2%, which means we may have to maintain the policy interest rate at a level higher than people’s expectations for a longer period of time.

On January 8th, due to concerns that Tesla’s newly released driver assistance feature may lead to collisions, US regulatory authorities may launch an investigation into the company’s technology. After reports of issues with Tesla’s “Advanced Intelligent Summon” feature, the National Highway Traffic Safety Administration (NHTSA) has begun a preliminary assessment of approximately 2.6 million Tesla vehicles. According to documents released on NHTSA’s official website, the department has received a complaint alleging that Tesla’s “Advanced Intelligent Summoning” feature caused a car accident, in addition to at least three similar incidents reported by the media. Tesla’s “Advanced Smart Summon” launched at the end of last year allows car owners to remotely move their vehicles in parking lots or other places using a smartphone application. NHTSA stated that some vehicles failed to detect benchmarks or other parked vehicles while using this feature, resulting in accidents, and some users were too rushed to avoid collisions.

On January 7th, the Wisconsin State Taxation Office issued a statement on January 6th stating that Hon Hai, through its subsidiary FEWI Development, has acquired 20 acres of land in Mount Pleasant, with a land value of nearly $4.9 million. Hon Hai has not disclosed specific plans regarding the land. Mount Pleasant stated that it is fulfilling the development agreement reached with Foxconn several years ago, which includes a commitment to transfer ownership of some of its assets upon Foxconn’s request.