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US Federal Reserve

US Federal Reserve
Founded in 1913, the Federal Reserve is the central banking system for the United States.
last updated:
9 September, 2024
The US Federal Reserve’s third straight interest-rate cut dampened the speculative spirits unleashed in the cryptocurrency market by Donald Trump’s pledge of friendly regulations. Photo: EPA-EFE
Cryptocurrency

Bitcoin records first weekly decline since Donald Trump’s US election victory

The original cryptocurrency was down more than 7 per cent for the seven-day period through 9:27am on Monday in Singapore.

Banking & finance

Opinion | In a world fraught with risk, Trump will add to the bumps

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Hong Kong

Editorial | Hong Kong interest rates volatility price to pay as spectre of Trump tariffs looms

Yuan

US Fed’s hawkish rate-cut forecast slams China’s yuan

China’s currency, hammered since Trump’s re-election, has depreciated further against the US dollar, despite the yuan’s share among global payments rising.

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The Chinese yuan’s latest decline was driven by the US Fed’s fresh projection of only two quarter-point rate cuts in 2025. Photo: Reuters
Hong Kong Monetary Authority (HKMA)

Hong Kong banks cut lending rates, but HKMA warns of volatility ahead

The latest rate cuts by lenders such as HSBC and Bank of China will lighten the monthly burden on mortgage borrowers by about HK$351 to HK$22,452.

Interest rates

US Federal Reserve set to cut rates as Trump prepares for second term

Analysts expect a slower path of rate cuts next year as they have concerns about some of Trump’s key policy initiatives.

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Banking & finance

US banks face rising distress as commercial property values slump

Smaller US banks ramp up loan modifications amid slumping commercial property values.

The Chicago skyline seen after a snowstorm. Photo: EPA-EFE
Hong Kong property

Mystery buyer spends HK$150 million for 26 flats in shopping binge

All the flats were acquired in Kai Tak district in projects including Double Coast 1 and Twin Victoria, according to agents.

Digital currencies

US bankers cautious about crypto amid expectations of regulatory easing

Goldman Sachs CEO David Solomon said the Wall Street giant would ‘evaluate’ dealing in top cryptocurrencies like bitcoin and ether if rules change.

Hong Kong property

Hong Kong home prices: up or down? Experts weigh in with forecasts for 2025

Analysts forecast up to 5 per cent price fall or rise amid oversupply, falling interest rates and improving stock market performance.

CK Asset’s mass residential project in Kwun Tong. Some 87,000 new flats in Hong Kong are estimated to be ready by the end of next year, according to JLL. Photo: Nora Tam
Banking & finance

The View | Trump could upend the US economy just as China is recovering

Trump’s economic strategy could change narratives not only about US markets but Chinese ones as well.

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Donald Trump, then Republican presidential nominee, listens as hedge fund manager Scott Bessent speaks on the economy in Asheville, North Carolina, on August 14. Bessent is Trump’s pick for Treasury secretary. Photo: AP
China economy

Macroscope | Fears of China’s ‘Japanification’ are overblown

While low yields might be a symptom of Japanification, evidence shows bond markets are on China’s side.

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United States

Opinion | An America awash in global capital risks spreading financial instability

Free capital flows accelerate economic growth but can also be destabilising, spreading jitters via financial markets.

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Hong Kong property

Hong Kong home prices rise for the first time since March; rents cool slightly

Secondary home prices increased 0.62 per cent in October.

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A real estate agency in North Point. Photo: Eugene Lee
Hong Kong housing

The View | Can Hong Kong’s property market weather the Trump shock?

Hong Kong’s real estate industry cannot seem to catch a break, though the outlook is not all doom and gloom if you know where to look.

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Pedestrians pass a property agency in Ap Lei Chau on October 15. Hong Kong’s property sector is bracing for another four years of uncertainty after Donald Trump’s victory in the US presidential election. Photo: Eugene Lee
US-China relations

Speculation over Trump’s US treasury pick reveals divergent views in transition

China tariffs in focus as president-elect’s high-profile advisers like Elon Musk push candidates who embody a break from ‘business as usual’.

United States

Macroscope | Trumponomics 2.0 is fraught with danger

Investors are downplaying the impact of the protectionist and populist thrust of Trump 2.0 and have not even begun to price in the risks.

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China’s economic stimulus

Open Questions | Economist Huang Yiping on Trump trade war 2.0 and China’s stimulus ‘U-turn’

Huang Yiping of Peking University talks the re-election of Donald Trump and why China needs its own Marshall Plan.

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Illustration: Lau Ka-kuen
Hong Kong economy

Another 17 firms to set up offices in Hong Kong under push to develop I&T sector

Financial Secretary Paul Chan also says city will need to be fully prepared for effects on global economy brought about by US presidential election.

Hong Kong property

Hong Kong home prices to bottom out in short term after rate cut: analysts

Unexpected prime-rate cut by local lenders seen bringing more buyers into market, shoring up prices.

Banking & finance

Fed rate cut gives China room to move as Beijing eyes more economic stimulus

US Federal Reserve lowered its benchmark rate less than a day before China is expected to release its latest economic stimulus plan.

US Federal Reserve Board chairman Jerome Powell. Photo: Xinhua
Banking & finance

Hong Kong’s base interest rate drops to 5% in second cut

Together with the half-percentage-point cut in September, Hong Kong’s key rate has now fallen back to February 2023’s level.

View of Hong Kong from the Hong Kong Monetary Authority (HKMA) headquarters at IFC in Central district on October 9, 2024. Photo: May Tse
US presidential election 2024

Opinion | Trump’s return as president marks the end of American exceptionalism

Trump’s second term will mark a turn in US foreign policy towards a transactional approach and hasten the start of a multipolar world order.

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Central banks

US Federal Reserve eases rates with quarter-point cut

Fed chairman Jerome Powell is expected to be questioned on Thursday about economic impact of Trump’s US election victory.

US presidential election 2024

Wall Street stocks, bitcoin, US dollar soar following Trump win

However, concerns about inflation and higher interest rates emerged, leading to a decline in Treasury bond prices and European stock markets.

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A monitor shows a CNBC broadcast at the New York Stock Exchange after Republican Donald Trump won the US presidential election. Photo: Reuters
China economy

Editorial | Industrial profits slide highlights China’s need for balanced economy

Amid mixed signals on the health of the economy, President Xi Jinping calls on top officials to keep China on track to meet annual growth target of about 5 per cent.

An employee works at a factory producing stainless steel materials in Qingzhou, in eastern China’s Shandong province. Photo: AFP
US presidential election 2024

Opinion | Why Trump tariffs 2.0 may well result in a G2 world

Trump’s proposed tariffs on US imports would drive inflation and squeeze middle powers, but is that all part of the plan?

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India

Gold’s shine fades in India as US election, high prices dampen Diwali demand

While gold is often seen as a safe haven, traders are hesitant to purchase due to the potential for price fluctuations after the US election.

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