January 5 fed and Ethereum
the interest rate cut by the Federal Reserve is the federal benchmark rate. It is the rediscount rate of the Federal Reserve to the commercial banks. The federal reserve rate is directly related to the financing cost of the banks. It has a strong guiding role for the interest rate of the American banks, so it indirectly affects the interest rate level of the entire American banking instry
the impact of the Federal Reserve's interest rate cut:
1. If the Federal Reserve cuts interest rates, the interests of depositors will be reced, so the deposits will be used as other investments to fill the originally deserved interests. The number of borrowers increased and the amount increased. That is to say, through this way, we can stimulate economic growth and domestic demand
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if the deposit interest rate is reced, the people will appropriately increase the living consumption expenditure, which will play a certain role in boosting domestic demand, and will also make the people use more bank deposits for consumption and investment
for the real estate instry, high monetary price and high capital pressure are the two main contradictions. Interest rate rection will promote the purchase of house buyers, especially for the indivials and families who buy houses, the pressure of housing loan will become smaller, the market may usher in a new round of purchase tide, and the capital pressure of real estate enterprises will be eased
in addition, the interest rate cut may put in more funds, which will cause the expectation of RMB devaluation to a certain extent, which is concive to the export of foreign trade enterprises, especially for the enterprises of medium and high-end procts
at the same time, the decline of money price will rece the operating cost of enterprises and the financing cost of the stock market, which will stimulate more capital flow to the stock market and contribute to the sustained bull market
The US Federal Reserve's interest rate increase will promote the short-term rise of the US dollar, and the RMB will have a short-term decline against the US dollar P>
the Fed's interest rate increases
1 and controls the "hot money" lending that will lead to the financial bubble to a certain extent. If the interest rate remains ultra-low for too long, there will eventually be over leveraged lending, which will eventually lead to a substantial correction in the market
4. The US dollar will rise, and the bulk commodities, precious metals and foreign exchange markets in US dollar will fall. For some emerging economies, this may mean an outflow of funds, which will lead to a downward trend in the exchange rate of their own currencies, and other currencies, including the RMB, will continue to depreciate. The most direct impact of currency devaluation is capital outflow, which has the greatest impact on emerging market countries
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the Federal Reserve System, referred to as the Federal Reserve, is responsible for performing the ties of the Central Bank of the United States. The system was established on December 23, 1913 under the Federal Reserve Act. The core governing body of the Federal Reserve is the Federal Reserve
the federal reserve system consists of the Federal Reserve Board in Washington, D.C. and 12 regional Federal Reserve Banks in major cities across the country. Jerome Powell is the current chief executive of the Federal Reserve. As the Central Bank of the United States, the Federal Reserve obtains power from the U.S. Congress to formulate monetary policy and supervise U.S. financial institutions
the United States and European countries are basically capitalist countries. The central banks of many countries are established by private banks. In fact, only a few banks are directly established by the government. Of course, these central banks are government agencies now
in 2018, as in the past, the Federal Reserve will hold eight meetings. Among the eight meetings, March, June, September and December are still the most important months. There are press conferences of the chairman of the Federal Reserve in the above four months, which are also the key months for raising interest rates
in addition, the schele of the November meeting seems to be unusual: the November 7-8 meeting seems to be one day later than in previous years, from Wednesday to Thursday, rather than the usual Tuesday to Wednesday; This arrangement may be e to the mid-term election in the United States on November 6<
schele of the Federal Reserve interest rate meeting in 2018
January 30-31, 2018
March 20-21, 2018
may 1-2, 2018
June 12-13, 2018
July 31 to August 1, 2018
September 25-26, 2018
November 7-8, 2018
December 1, 2018 8-19 Federal Reserve Chairman Yellen's press conference
January 29-30, 2019
the Federal Reserve's interest rate meeting, also known as FOMC meeting, is a meeting of the Federal Open Market Committee. FOMC is subordinate to the Federal Reserve System and its main task is to determine U.S. monetary policy
the interest rate meeting of the Federal Reserve usually lasts for one to two days, mainly discussing the economic operation, financial market risks and monetary policy decisions. Every time, economists from the Federal Reserve will present their research results, and there will be other policy decisions
the interest rate meeting of the Federal Reserve paid special attention to two issues facing the economy: economic growth and inflation. If the interest rate is too high, economic growth may slow down, resulting in depression; On the other hand, the low interest rate may make the economic growth speed surpass the potential of the economy itself, resulting in inflation
the above is the schele of the Federal Reserve's interest rate meeting in 2018 provided by the ggpm Jinsheng gold and silver editor. I hope it can be helpful to you. For more trading knowledge, please pay attention to the column of investment school on the official website of Jinsheng finance.
in the past 30 years, every time the Federal Reserve raised interest rates and the US dollar appreciated, there was a crisis in emerging markets. From 1980 to 1985, the appreciation of US dollar triggered the debt crisis in Latin America; From 1995 to 2001, the Asian financial crisis and Russian debt crisis came into being; Since 2011, the overall appreciation of the US dollar has caused repeated shocks in Latin America, Asian emerging market countries and financial markets< In China's financial market, under the influence of the interest rate increase, there was a sharp reaction in the opening of the three domestic stock bond exchange markets on Thursday (December 14). China's 10-year Treasury bonds and 5-year treasury bonds both fell by the limit, and the 10-year Treasury bonds fell the most since they were listed. The Shanghai and Shenzhen stock markets both opened lower, with the Shanghai index opening at 3125.76, down 0.47%. The Shenzhen composite index opened at 10202.24, down 0.3%. Gem opened at 1957.71, down 0.27%. The onshore RMB opened nearly 300 points lower against the US dollar to 6.9350, a new low for more than eight years. The offshore RMB fell to the 6.95 level against the US dollar earlier, but then the decline narrowed, and now it fluctuates around 6.9420
at present, China is facing a slowdown in economic growth, and the US interest rate increase may increase capital outflow, which will bring additional growth resistance
in terms of the impact of the Fed's interest rate increase on China's economy, Zhu Jianfang, chief economist of CITIC Securities, believes that the short-term impact of the Fed's interest rate increase on China's economy will mainly affect China's economy through three factors:
first, trade. The US Federal Reserve's interest rate increase again shows that the US economic recovery is clear. Due to the US economic status, it is possible to slightly improve the weak global trade situation, which is positive for China's export improvement< The second is monetary policy. In the context of the fundamental tone of China's monetary policy and the task of inhibiting asset bubbles and preventing economic and financial risks and rising inflation, the Fed's interest rate hike will further restrict the space of China's monetary policy. Third, foreign exchange. Due to the profit seeking nature of capital, the increase in the rate of return on US dollar assets will further exert pressure on RMB. If the rate of interest increase is frequent in 2017, the foreign exchange reserves will also bear more pressure. Generally speaking, the impact of the Fed's interest rate increase on China's economy is good and bad, but the economy may be greatly affected in the short term. It believes that after the implementation of this interest rate increase, we should mainly focus on the impact of Trump's policies on the economy
historical data show that a shares have not been affected much
for China, in the three rounds of us tightening since 1994, the Shanghai stock index has fallen within one month after the first interest rate increase, and the performance of the first quarter after the first interest rate increase in the United States is also poor, but this may be more closely related to China's domestic factors, because in 1994 and 2004, the Shanghai stock index has been declining, Even before the Federal Reserve raised interest rates, the Shanghai composite index was in decline< According to statistics, since the beginning of this year, the Federal Reserve has held seven interest rate meetings. On the eve of the meeting, a shares fell six times, with a probability of more than 80%. The negative impact was obvious. After the meeting, the Federal Reserve did not start to raise interest rates, and a shares returned to the original track, mainly rising, showing obvious strength
the Fed has finally raised interest rates. What is the impact of this "difficult" decision on China
the Fed has finally raised interest rates. What is the impact of this "difficult" decision on China
it can be seen from the above table that the impact of the Federal Reserve's interest rate increase on a shares is not strongly related, and a shares still operate according to their own rules. However, e to the long time interval between the previous interest rate increase cycle of the Federal Reserve and today, the reference significance is not too great. The most recent interest rate increase was on December 16 last year. A shares rose before and after the interest rate increase
analysts believe that the Federal Reserve's interest rate increase is an external factor, and the external factor can only work through the internal factor. Judging from the historical performance of the A-share market after the Fed's interest rate increase in the past, it is expected that the impact of the Fed's interest rate increase on the A-share market may be limited. As far as the current situation of a shares is concerned, the short-term market performance depends on domestic policies. Under the influence of tight capital at the end of the year and other factors, the A-share market may continue to consolidate
the pressure of RMB devaluation is increasing
Guan Qingyou and Li Qilin, analysts of fixed income team of Minsheng securities, wrote an article in the last interest rate increase by the Federal Reserve, pointing out that in the medium and long term, the interest rate increase by the Federal Reserve will aggravate the pressure of RMB exchange rate devaluation. Since 2014, the RMB exchange rate has entered an era of two-way fluctuations, but the center of fluctuations is constantly depreciating. In 2014, the average exchange rate of RMB against the US dollar was 6.162, which has been depreciated to 6.47 in 2015. The central exchange rate of RMB may continue to depreciate in the next few years
Liu Ligang, chief China economist of Citigroup, said before the Federal Reserve raised interest rates that under the background of strong US dollar, China's current practice of maintaining the stability of RMB against a basket of currencies will form one-way depreciation expectation. Shen Jianguang, Asia chief economist of Mizuho Securities, said in an interview on the eve of the interest rate increase that if the economic policies proposed by trump are as positive as expected, the pace of interest rate increase in the United States next year will be more compact. If the US dollar continues to be strong in the future, capital outflow will continue, and the RMB will face greater depreciation pressure
"What's the interest rate increase?"
I asked my friends about this question, and the answer is basically: isn't it the deposit interest
If we put it in our country, this answer is correct. However, in the United States, which claims freedom and equality (attention is claimed), the behavior of directly intervening in the market through administrative means is criticized except in extraordinary times When it comes to interest, the first thing we think of is banksin the process of daily operation, commercial banks often encounter temporary liquidity shortage, whether it is because of lending or large amount of withdrawal
what should we do if we are short of working capital? Find a bank with surplus funds on hand to borrow money and pay a certain amount of interest. This interest rate is called interbank offered rate in China and federal funds rate in the United States
The federal funds rate is the most important short-term interest rate, which can largely determine the official discount rate, commercial bank deposit and loan interest rate and other parameters However, it should be remembered that this is a matter discussed between banks, and the central bank should not intervene easily. Therefore, the Federal Reserve sets the target range for the federal funds ratetake the second interest rate increase by the Federal Reserve in mid June this year as an example:
as can be seen from the above figure, after the US entered the interest rate increase cycle, e to the continuous selling of treasury bonds, its price fell and its yield increased
It is relatively simple to cut interest rates. The Federal Reserve directly told commercial banks in need of funds to come to the central bank, set their borrowing rate within the target range of lower federal funds rate, and start lending to banks In this way, if other banks do not adjust their own interest rates, the surplus funds will not be lent out. Without avoiding idleness, we can only simultaneously rece the borrowing rate to attract borrowing, and the federal funds rate will be recedsubsequently, the changes in the cost of bank funds will be transmitted to other interest rates, including deposit and loan interest rates closely related to everyone
I will talk about the various tools of the Federal Reserve and monetary policy in detail in the wechat public account [Securities Research Report]
Zhang Xiangchen made the above remarks at the press conference of 2014 China's foreign direct investment statistical bulletin held on the same day<
on September 16, New York time, the US Federal Reserve started a two-day interest rate meeting in September, and is scheled to issue the monetary policy statement of the meeting on September 17. However, recent mixed U.S. economic data and global market volatility have reced market expectations that the Federal Reserve will raise interest rates this month< br />
Just look at the picture
the interest rate meeting of the Federal Reserve affects global market nerves. The picture shows the location of the Federal Reserve headquarters building< According to Zhang Xiangchen's introction yesterday, the reason why Chinese enterprises are indifferent to the impact of the Federal Reserve's interest rate increase on China's economy is that their investment in the United States is fundamentally based on the long-term development of enterprises. For a strategic development, they will take into account a number of factors, including the host country's macroeconomic policy, including the interest rate policy, Of course, they are under consideration, but more importantly, from the perspective of global instrial layout adjustment, they will look for suitable development opportunities according to the needs of their own enterprises
according to the message delivered at yesterday's press conference, China's foreign direct investment reached a new high< In 2014, China's foreign direct investment reached a record high of US $123.12 billion, an increase of 14.2% over the same period of last year, ranking third in the world for three consecutive years, and the two-way investment was close to balance for the first time
the top three destinations for mainland China's foreign investment are Hong Kong, China, Australia and the United States
"according to the data we have in the past, Chinese enterprises still hold a positive attitude towards investing in the United States. In particular, the data from January to August of this year show that Chinese enterprises are still highly motivated to invest in the United States, and there are still strong complementarities between China and the United States in investment cooperation. We believe that Chinese enterprises' investment in the United States will still maintain a relatively high growth momentum. " Zhang Xiangchen said< In the first eight months of this year, China's investment in the United States reached US $4.43 billion, up 35.9% year on year<
by the end of 2014, the stock of China's direct investment in the United States was 38.01 billion US dollars, accounting for 58.3% of the total stock of investment. The United States has become the third largest destination for China's foreign investment. However, e to the late start of China's foreign investment, China's various types of investment in the United States only accounted for nearly 1% of the stock of foreign investment in the United States< Although Chinese enterprises are enthusiastic about going to the United States, Zhang Xiangchen mentioned that the security review mechanism is an issue of concern to Chinese enterprises and the Chinese government. China will supervise and urge the United States in the negotiation of bilateral investment agreements between China and the United States, so as to improve transparency and simplify proceres in the review, It can rece the unnecessary burden of enterprises and the obstacles for Chinese enterprises to invest in the United States< In contrast, the investment speed of American enterprises in China is slowing down< According to the data released by the Ministry of Commerce, US investment in China dropped by 19.6% from January to August this year. Shen Danyang, a spokesman for the Ministry of Commerce, explained that the main reason is that the vast majority of us enterprises still have confidence in investing in China because of the high base and market factors
in 2014, the difference between China's foreign direct investment and China's foreign investment was only US $5.38 billion, and the two-way investment was close to balance for the first time“ We are now close to a balance point between foreign investment and attracting foreign investment, but we are still a long way from that balance point. " Zhang Xiangchen said
in the long run, Zhang Xiangchen believes that China's foreign investment will exceed that of attracting foreign investment, which is a trend. China has passed the high-speed growth period of attracting foreign investment, and now it is the platform period. "In recent years, we have attracted about 120 billion yuan of foreign investment, sometimes up or down 3-5 percentage points, but our foreign investment has maintained a double-digit growth momentum, This momentum will continue for some time to come. "
according to the introction, in 2014, 77.2% of the overseas investment enterprises were profitable and even, and 22.8% were in loss. Among the 2000 foreign enterprises owned by central enterprises, 74.4% of them made profits and even profits, while 25.6% made losses
"therefore, we can draw a basic conclusion that the overall operating conditions of Chinese overseas enterprises are still good." Zhang Xiangchen said
please take it. Thank you
the Federal Reserve is short for the Federal Reserve Board of the United States, and its function is actually "the Central Bank of the United States"< The Federal Reserve Board of the United States is located in Washington, D.C
Federal Reserve System (FED). As the highest monetary policy authority in the United States, it is responsible for keeping commercial bank reserves, lending to commercial banks and issuing Federal Reserve notes. The Federal Reserve Board is also the head organ for formulating the monetary policy of the United States.
Development:
the first bank of the United States was established from 1791 to 1811, which was the first institution with the function of central bank in the United States< From 1811 to 1816, the Central Bank of the U.S.
from 1816 to 1836, the second bank of the U.S.
from 1837 to 1862, there was no formal central bank in the United States
from 1862 to 1913, a (private) national banking system played this role< On December 23, 1913, the Federal Reserve was established by the US Congress on the basis of the passage of the Owen glass act (also known as the Federal Reserve Act) and signed by President Woodrow Wilson< From 1846 to 1921, an independent financial system was introced, and from 1863 to 1913, it was renamed the National Bank of China.
