- Important Statements from Fed Chairman Jerome Powell
- Erdogan: Central Bank’s Reserve Amount will Reach 115 Billion Dollars
- In Australia, the Record Number of Daily Cases was Broken.
Important Statements from Fed Chairman Jerome Powell
Powell gave a speech titled “Monetary Policy in the Time of Covid-19” at the Economic Policy Symposium, which took place in the digital environment, contrary to what was planned this year due to the Covid-19 outbreak.
In his speech, Powell said that 17 months have passed since the US economy faced the effects of the Covid-19 epidemic and the shock caused by the epidemic caused a sudden and unprecedented decline in most of the economy. Pointing out that the recovery path is tough, Powell said that strong policy support fueled a strong but erratic recovery. Stating that labor market conditions have improved but “turbulent,” Jerome Powell said, “The epidemic continues to threaten not only health and life but also economic activity.” Reminding that the pace of recovery exceeded expectations, but some difficulties and surprises are inevitable given the ongoing turmoil in the economy. Rapid normalization of the economy has caused a sharp increase in inflation, Fed Chairman Powell said that businesses and consumers reported widespread upward pressure on prices and wages. “Inflation at these levels is, of course, a cause for concern, but that concern is tempered by a number of factors that prove these high readings are temporary. “
Global markets followed a positive course after Powell’s speech
Erdogan: Central Bank’s Reserve Amount will Reach 115 Billion Dollars
After his official visits to Bosnia and Herzegovina, and Karabakh, President Erdoğan journalists’ questions.
Erdogan: “Our reserve amount will reach 115 billion dollars by the end of the year. There will be more, not less.” said. In his speech, Erdogan blamed the opposition: “Of course, the opposition’s calculations were different, they were planning much lower numbers, their calculations did not hold. The fact that it will now exceed 115 billion dollars has been a problem for them. Even so, I hope we will reach over 115 billion dollars in this way,” he said.
Referring to the Taliban administration in Afghanistan, Erdogan emphasized that Turkey’s diplomatic presence will continue and said, “As Turkey, our problem is that Afghanistan must recover quickly. The Afghan people can no longer bear such a burden. It has a population of around 40 million. There is a huge country. We are ready to give all kinds of support to Afghanistan’s unity and solidarity. As long as we see that approach from Afghanistan in this sense,” he said.
In Australia, the Record Number of Daily Cases was Broken
Due to its early success in controlling the virus, the country’s Covid fatalities are lower than those of most other advanced nations. However, Australia is currently experiencing its worst-case numbers since the outbreak began. A recent outbreak in Sydney has put Australia’s response strategy and health resources under strain. Even though more people got vaccinated, authorities cautioned that death and hospitalization rates would rise through October.
After outbreaks in Sydney, Melbourne, and Canberra, more than half of Australia is under lockdown.
Longer lockdowns and a surge in vaccines have fueled discussion about whether states and the country should reopen.
Last week, Prime Minister Scott Morrison reversed the country’s earlier zero-Covid policy. “We cannot live in this cave forever,” he told parliament last week, referring to the city-wide curfews and state-wide border closures. However, critics, as well as medical experts, reject Mr Morrison’s aims, claiming that easing limits too soon might jeopardize lives.
Approximately 34% of adult Australians have been vaccinated, with 57 percent having received the first dose.