Chapter Eighty-Seven: Hegemony (Part 1)
A week later.
New York City, USA.
Ben Burknam, President of the Federal Reserve Bank of New York, spoke to the media at his resignation press conference.
"Non-farm payrolls increased by 196,000, according to last month's Labor Department statistics.
The unemployment rate held steady at 3.8%, in line with expectations.
But wages rose 0.14% for the month, below economists' expectations of 0.3%.
That resulted in a 3.2% year-on-year increase in wages, the slowest rate of hourly earnings growth since last September.
The rate at which wages are rising is one of the important data on inflation.
........
In terms of indications, there is an expectation of a decline in inflation.
Therefore, the Fed does not rule out the possibility of lowering interest rates in the future to prevent a slowdown in the US economic growth. ”
This is a heavyweight.
Ben Bernanke is an American economist.
Born on December 13, 1953 in Augusta, Georgia, USA, he received his B.A. from Harvard University in 1975 and his Ph.D. from the Massachusetts Institute of Technology in 1979.
Bernanke taught at Princeton University for 17 years, where he served as chair of the economics department.
He was a visiting scholar at the Federal Reserve from 1987 to 1987, the Federal Reserve Bank of Boston from 1989 to 1990, and the Federal Reserve Bank of New York from 1990 to 1991 and 1994 to 1996.
There is news that Ben Berknan will become a governor of the Federal Reserve after leaving the Federal Reserve Bank of New York.
This is a very important position.
This means that Ben Berknan will have the right to vote on the Fed's interest rate decision.
In the field of American economics, Ben Burknan is widely regarded as the best economist since economic czar Alan Greenspan.
A political research team believes that Ben Berknan is likely to be one of Greenspan's candidates for Fed chairmanship after he leaves office.
Then, as if confirming all kinds of rumors.
Federal Reserve Chairman Alan Greenspan, who has always been ambiguous in his words, and even women can't understand his mind, revealed in public.
At present, there is still a possibility of slowing down in the growth rate of the US economy, and the price index has remained almost at the same line for the past three months.
Greenspan also joked.
Three months ago, he bought a burger for $1.2, and now, it's still that price.
This means that the growth rate of the US economy has stagnated.
Therefore, the Fed does not rule out lowering interest rates in next week's interest rate decision to ensure the growth of the US economy.
Economic Tsar, Alan Greenspan.
The name represents the Federal Reserve System of the United States, which is also the central bank of the United States.
Anyone can be president, but as long as Alan Greenspan is chairman of the Federal Reserve.
This sentence alone shows how powerful Grisepan's influence really is.
Ben Bernanke, on the other hand, is known as the next Alan Greenspan.
The impact of the speeches of such two important figures is self-evident.
That day.
Immediately, there was an upheaval in global financial markets.
Hong Kong, Jushi Capital Trading Department.
In the central trading area, five giant LCD monitors are hung.
All are displays up to 80 inches.
These huge displays show charts of the world's major financial markets in a rectangular shape.
Dow Jones Industrial Average, NASDAQ, Nikkei, Thailand SET, US Dollar Index, Japanese Yen Index........
US Dollar to British Pound, US Dollar to Japanese Yen, US Dollar to Thai Baht.......
The trend charts are like electrocardiograms, up and down.
The handicap of these various financial contracts is flashing with data that cannot be counted by the naked eye.
USD to GBP, 0.6432, 0.6428, 0.6395...... 0.6291, 0.5978.
USD/JPY, 114.750/114.685.......114.572, 113.518........
U.S. dollar to Canadian dollar .........
Dow Jones Industrial Averages, 5999.55, 6001.25.....6115.35.
Nikkei.
18820.14......18710.26......18680.38.....。
Thailand SIT Index.
664.45、665.28......。
U.S. dollar index.
97.350、97.275、97.180........。
The currencies of various countries, which have been in the depreciation range recently, have continued to rise.
Japanese Yen, Canadian Dollar, British Pound Sterling......
Almost all currencies are climbing in value against the US dollar.
Dow Jones Industrial Average, NASDAQ.
After jumping high, they are still attacking upwards.
However, the dollar composite index is constantly falling.
All because of the statements of Alan Greenspan and Ben Bernanke.
Even if it's just an inconclusive statement.
Interest rate cuts, the Fed may cut interest rates.
On the big screen in the central trading area of Jushi Capital, the handicap of the global financial market is jumping rapidly.
Zhao Jiangchuan sat in the middle position, observing the fluctuations of the major markets.
His face was flat, as if he had no idea that he had made a lot of noise in the outside world.
After a long time.
The corners of Zhao Jiangchuan's mouth curled up in an arc, and there was a hint of sarcasm in his eyes.
He doesn't even have to guess, and tomorrow financial experts from various countries will jump out to explain why the expectation of a dollar rate cut is different from the last market reaction.
It's like the stock market going up.
When it rises, there will always be all kinds of positives.
When it falls, there will inevitably be various negatives.
It seems that the stock market has risen and fallen because of various positive and negative effects.
The degree of coincidence is as good as the truth.
Last time, the value of the US dollar continued to rise after the US dollar cut interest rates.
In just two months, the dollar index has risen from 79 points to 97 points.
And this time, it is also the expectation of a rate cut.
The U.S. dollar, however, is on a downward trend.
96.789.
The U.S. dollar fell by more than one percent.
It was the biggest one-day drop in two months.
Last time, the Fed cut interest rates, and the logic of the dollar's strength is that the release of dollar liquidity will boost the strength of the U.S. economy.
The U.S. economy is strong, so it is natural for the dollar to appreciate.
This time.
I am afraid that it will be said that the US dollar will cut interest rates to release the total value in circulation, and the money supply will be enlarged, and it will be natural to depreciate.
"Damn, who said that gringos can't play chess, hindsight is no worse than the Chinese. ”
Zhao Jiangchuan muttered to himself, his tone with indescribable sarcasm.
The tricks that the United States has used for decades have never changed.
But every time, it's always so good.
Because, this is the hegemony of the dollar.
Money is the carrier of wealth, the lifeblood of the economy, and the core of the origin of all economies.
Kissinger said.
Whoever controls energy controls all countries.
Whoever controls the food controls all the human race.
Whoever controls the currency controls the whole world.
In the global monetary system, the U.S. dollar is unique and worthy of its name.
That little yellow-green piece of paper makes people love and hate at the same time.
Even Iran and North Korea, which are eager to get along with the United States for a long time, will go up and step on the little yellow-green piece of paper when they see it, and then pick it up.
Lick the dust off it and carefully put it in your pocket.
Now, just the words of two people have immediately exploded the global financial market.
It's all because they can influence the price of the dollar.
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