Home World [5 books this morning]Carefully selected news to read at the beginning of work –Bloomberg

[5 books this morning]Carefully selected news to read at the beginning of work –Bloomberg

by news dir

It’s finally clear this week who US President Joe Biden will nominate as the next chairman of the Federal Reserve Board (FRB). Will you choose the incumbent Powell, whose Senate approval is likely to go relatively smoothly, or will you appoint Brainard to give consideration to the progressives within the party and prioritize the unity of the party?The former may fall behind in anti-inflation measures, and the latter has a clear connection with the Democratic Party.Concerns have been raised about political independence. Biden is being asked to make a careful decision, as both elections may have a gradual effect on next year’s midterm elections. Below are five news items to keep in mind as you start your day.

Are you ready for the invasion?

The United States shared information with its European allies, including a map showing that Russian troops are increasing troops and artillery troops near the Ukraine border.If Putin makes a decision, from multiple sourcesIt is believed to prepare for a rapid and large-scale invasion of Ukraine. Several people familiar with the situation have revealed. Diplomatic efforts are being made, such as European leaders working directly with Mr Putin to prevent Russia from invading Ukraine. Putin said he is considering an invasion early next year, according to US analysis.

New suspicion

Former Credit Suisse Group bankers testified to law enforcement officials that the bank is still helping American customers hide their accounts. The bank paid a $ 2.6 billion fine in 2014 and said it continued even after promising to stop such tax evasion assistance. The bank was shaken this year by scandals involving Archegos Capital Management and Greensill Capital.Credit Suisse said in a statement, “After the 2014 settlement, we have been and will continue to cooperate fully with US authorities.” The U.S. Department of Justice said a few weeks ago that it would crack down on companies that repeatedly violate the law.

Semi-stagflation

Liu Se-Jin, a member of the People’s Bank of China’s Monetary Policy Committee, said the country’s economy could enter a “quasi-stagflation” phase with relatively low growth rates and excessively high producer price increases. It pointed out. He said that once the situation falls, it will continue next year, so great care must be taken. China’s economic growth has slowed significantly since September, and judging from the current situation, it is very likely that it will fall below 4% in October-December (fourth quarter).

Safe

A Chinese female professional tennis player whose whereabouts were unknown,Peng Shuai met with President Bach of the International Olympic Committee (IOC) online for about 30 minutes and told him that he was safe. The IOC issued a statement on the 21st. About half a day before the interview was announced, a video showing Mr. Peng eating at a restaurant and participating in a children’s tennis tournament was spread on the Internet by Chinese state media and commentators. The IOC statement explained in an interview with Mr. Peng, “I was told that I was safe and had no health problems and that I lived in my home in Beijing. Now I want you to respect your privacy.” bottom.

High price for the first time in 6 years

The China Foreign Exchange Market Guidance Committee (CFEC), which consists of major financial institutions involved in the trading of Chinese yuan,He urged banks to limit speculative yuan transactions. Measures in response to the yuan’s highest price in six years. Founded under the guidance of the People’s Bank of China (Central Bank), the commission urged risk to be neutral in both self-account and customer account transactions. It was clarified by information from multiple people familiar with the situation.

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