The Federal Reserve stated that the expansion of the new crown vaccination program has helped the US economy achieve a strong rebound, and monetary policy will continue to provide "strong support" to the economy. The Federal Reserve stated in its semi-annual monetary policy report on Friday: “With the support of loose monetary and fiscal policies, progress in vaccination has promoted the reopening of the economy and strong growth. However, the impact of the epidemic continues to put pressure on the U.S. economy. Employment is still far below the level before the outbreak." Fed Chairman Powell will testify on the semi-annual monetary policy report before the House of Representatives Financial Services Committee on July 14, and testify before the Senate Banking Committee the day after.

European Central Bank President Christina Lagarde said investors should be prepared for new monetary stimulus policy guidelines in 10 days, and hinted that after the current emergency bond purchase plan is over, new measures may be taken next year to support the euro. District economy. In an interview with Bloomberg TV, Lagarde said that the July 22 management committee meeting-previously expected to be relatively unremarkable-will now have "some interesting adjustments and changes." "This will be an important meeting," she said after attending a meeting of G20 finance ministers and central bank governors in Venice on Sunday. "We must persevere in fulfilling our promises, and we are bound to reassess forward-looking guidance."

After a meeting aimed at reshaping the post-crisis economic order, finance ministers from all over the world warned of the threat of undermining the fragile economic recovery. The G20 finance ministers meeting held in Venice, Italy on Saturday issued a communiqué saying that new variants of the new crown virus and uneven vaccination rates may undermine the bright prospects of the world economy. They are determined to continue to support economic growth to ensure that economic recovery can continue to gain a foothold.

Senior officials in the United States, Germany, and France have expressed confidence that the global taxation agreement adopted at the G20 Venice meeting has enough momentum to overcome political obstacles within Washington and the European Union so that it can be finalized in October. U.S. Treasury Secretary Yellen told reporters on the sidelines of the meeting, "There is still more work to be done, but I really hope that as consensus grows, we are on a path that is more effective for all of our citizens. On the road to a fair tax system."

U.S. President Joe Biden signed an executive order to promote competition in all walks of life in the United States, targeting technology companies and promising to strengthen the scrutiny of transactions in the technology industry and the collection of massive personal data. This move may encourage anti-monopoly law enforcement agencies to further curb the enormous power and influence that companies such as Amazon, Apple, Google, and Facebook have already formed. The order stated that the largest technology companies have acquired "hundreds" of companies in the past 10 years, including through so-called "suspected killer acquisitions" to eliminate competitive threats. The order stated, "Federal agencies often fail to prevent, set conditions, or in some cases carefully review these acquisitions."

The EU will propose to switch to zero-emission vehicles and raise its renewable energy targets, pushing its economy in an unprecedented way to meet more ambitious climate goals. According to an EU document seen by Bloomberg News, the European Commission plans to require that the emissions of new cars and trucks be reduced by 65% from this year's level starting in 2030, and by 100% starting in 2035. In addition to this stricter emission standard, the European Union also requires governments to strengthen the construction of vehicle charging infrastructure.

Only two days after the State Council executive meeting released the signal of the RRR cut, the People's Bank of China announced on Friday that it would lower the deposit reserve ratio of financial institutions. The speed and intensity of this move surpassed most economists' predictions. It not only shows Beijing's determination to use monetary policy to support the real economy, but also reflects the growing concerns of policymakers about the slowdown in recovery. The People's Bank of China announced on its website that it will lower the deposit reserve ratio of financial institutions by 0.5 percentage points on July 15, excluding institutions that have implemented a deposit reserve ratio of 5%. The person in charge of the central bank predicted in the question and answer that the RRR cut will release about 1 trillion yuan in long-term funds.

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