U.S. Treasury Secretary Yellen: The number of candidates for Federal Reserve Chair has been narrowed down to four
According to Jinse Finance, U.S. Treasury Secretary Bessent stated that the number of candidates for Federal Reserve Chair has been reduced to four, and it is expected that a decision on the Fed Chair will be made either before or after Davos. Regarding Federal Reserve Governor Bowman, the most suitable arrangement is for her to continue in her current position. Milan can continue to serve as a Fed Governor after January 31. Trump has not yet shared his views on the choice of Fed Chair with him. When Bessent spoke about Hassett and the Federal Reserve, he said that this is Trump's prerogative.
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Overseas capital is aggressively buying US stocks! Net inflows reached $942 billions over the past 12 months, marking a record since 1985.
According to data from the US Department of the Treasury, in the 12 months ending July this year, overseas investors made net purchases of US stocks totaling $942 billion, marking the highest rolling 12-month total since records began in 1985. The net purchases in the second quarter alone reached $426 billion, setting a new single-quarter record. Meanwhile, overseas demand for US Treasuries has noticeably cooled, with purchase volumes falling significantly. As a result, the US is facing higher costs in government debt financing.
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