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Market news: Japanese Chief Cabinet Secretary Yoshimasa Hayashi will visit the United States on September 23 to attend the United Nations General Assembly.Futures data from September 19th: COMEX gold futures fell 1.07% to $3,678.2/oz, while SHFE gold futures fell 0.71%. In addition, the US dollar index rose sharply overnight, putting pressure on gold in the short term. The Federal Reserves interest rate cut has been finalized, but economic forecasts have eased market concerns about employment. On Thursday, the Fed cut interest rates by 25 basis points to a range of 4.00-4.25%, as expected. Fed Chairman Powell stated that this was a risk-management cut, and that there was little demand for a 50 basis point cut, arguing that the transmission mechanism of tariffs and inflation has slowed, making the impact less significant. The risk of a slowing job market will be a focus in the future, and the dot plot suggests that two more rate cuts may be expected this year. The Feds mixed signals have increased market volatility. The decline in US stocks has also dampened risk appetite, and gold prices have not yet seen a clear path for rate cuts, leading to a subsequent decline. Based on the dot plot, gold remains bullish, and it remains to be seen whether it will recover its losses.Japanese Finance Minister Katsunobu Kato: I believe the Feds interest rate cut is based on its economic and price conditions.Japanese Finance Minister Katsunobu Kato: No comment on US monetary policy.Japanese Finance Minister Katsunobu Kato: Will monitor the impact of the US economy and finance on Japan.

Desalination Plant in California Suffers Setback With Recommendation For Denial

Haiden Holmes

Apr 26, 2022 10:07

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The commission, which has the authority to reverse staff decisions but does so infrequently, is due to vote on the project on May 12.


Desalination, environmentalists argue, annihilates ocean life, consumes excessive amounts of money and energy, and will soon be rendered obsolete by water recycling.


Poseidon Water, the infrastructure subsidiary of Canada's Brookfield Asset Management, is proposing the desalination facility near Huntington Beach, just south of Los Angeles.


Poseidon has been attempting to secure approval for the project for more than two decades, spending an estimated $100 million in the process.


With the Western states of the United States suffering from a prolonged drought, officials appeared to be on the verge of approving the Huntington Beach facility. Last year, the business expressed sufficient confidence to discuss breaking ground on the $1.4 billion factory by the end of 2022.


Poseidon has operated a comparable facility in Carlsbad since 2015, although it was permitted locally prior to the state enacting regulations governing desalination plants.