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According to Russian reports, the next trilateral meeting between Russia and Ukraine may not be held in Geneva.Atlanta Federal Reserve President Raphael Bostic said on Wednesday that the rift between the Federal Reserve and the White House has begun to erode public trust in the central banks apolitical position. This is one of the most direct warnings yet from a senior monetary policy official about the consequences of Trumps hawkish stance on the Fed. In his farewell address before retiring from the Atlanta Fed at the end of February, Bostic said his colleagues within the Fed system remain committed to keeping their work separate from politics. "But my visits over the past few months have made it clear that the legal and verbal battles surrounding the central bank have led people from all walks of life to question the Feds independence, which is a serious concern." Bostic is not the only Fed official this year to emphasize the importance of central bank independence, but no one has warned as directly as he did on Wednesday that the current controversies could undermine public trust in the institution.The vote count showed that the French government survived its first vote of no confidence in parliament.February 26 - According to the Cuban Embassy in the United States, the Cuban Ministry of the Interior issued a statement saying that when a border patrol vessel approached a U.S. speedboat for identification checks, the crew of the speedboat opened fire on the Cuban personnel, injuring the Cuban patrol vessels commander. As of the time of this announcement, four attackers on the foreign vessel have died and six others have been injured.Federal Reserves Bostic: A broad group has begun to question the Feds independence. The Feds independence in setting monetary policy has improved economic outcomes and market confidence, helping to maintain the U.S.s status as a safe haven.

Inflation and a possible Chinese quarantine easing keep oil prices constant

Charlie Brooks

Oct 21, 2022 14:09

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On Friday, oil prices remained largely steady as market participants weighed concerns about soaring inflation against optimism for an increase in China's energy demand.


At 00:02 GMT, Brent crude futures declined 5 cents to $92.33 a barrel. Futures on U.S. equities The price per barrel of West Texas Intermediate crude oil increased by 7 cents to $84.58.


Brent was anticipated to increase by 0.7% for the week, while WTI was expected to decrease by 1.3%.


In order to combat inflation, the United States has raised interest rates. Patrick Harker, president of the Federal Reserve Bank of Philadelphia, declared on Thursday that the Federal Reserve is aiming to slow the economy and would continue to raise the short-term interest rate target.


Bloomberg News reported on Thursday that Beijing is considering decreasing the guest quarantine period from 10 to 7 days, citing sources familiar with the matter.


This year, the world's largest importer of petroleum, China, has adhered to strict COVID-19 limitations, which have had a substantial negative impact on business and economic activity, hence cutting gasoline demand.


Recent price hikes can be ascribed to an expected ban on Russian crude and oil products by the European Union, as well as the output cut by the Organization of Petroleum Exporting Countries and its partners, including Russia, known as OPEC+.


OPEC+ agreed to a production cut of 2 million barrels per day at the beginning of October.

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