The global semiconductor shortage is getting worse as the Delta variant creates production delays in Malaysia, Vietnam, and the Philippines. That’s a new set of bottlenecks. Some automakers that had managed to avoid big shutdowns in production during earlier stages of the shortage are now moving to curtail output.
I’m starting up my videos again–this time using YouTube as a platform. My forty-ninth YouTube video “The market’s big fear is the economy” went up today.
I’m starting up my videos on JubakAM.com again–this time using YouTube as a platform. My fiftieth YouTube video “Quick Pick Adobe” went up today.
As expected the Federal Reserve’s Open Market Committee kept the central bank’s benchmark interest rate at 0% to 0.25% and left its bond buying program on a path to buy $120 billion of Treasuries and mortgage-backed assets a month. Unexpectedly, though, the bank indicated that a reduction in that bond buying program could happen “soon.” progress toward the Fed’s employment and inflation goals “continues broadly as expected, the committee judges that a moderation in the pace of asset purchases may soon be warranted,” the central bank’s said Wednesday in a statement following its two-day meeting. The Fed’s dot plot survey of central bank officials also revealed a move toward raising interest rates earlier than in the last survey in June.
I’d call the policy being followed by the People’s Bank in the China Evergrande crisis “Try to support the markets but see how little we can get away with.” Today Chins’s central bank supplied liquidity to the country’s financial markets with an injection of short-term cash. But the move fell far short of the kind of “Charge of the People’s vanguard” that the bank has mustered in earlier crises. And, importantly, there was no big statement of market support to go with today’s actions.
Evergrande misses interest payments to two of its biggest bank creditors. The company owes banks $88.5 billion with nearly half due in less than a year.