EUR/USD
1.16483
0.198%
Gold
4506.07
1.120%
Oil
88.030
-0.373%
USD/JPY
159.245
-0.168%
GBP/USD
1.34391
0.089%
GBP/JPY
214.014
-0.073%
Real-time News
On May 29th, a draft plan revealed that the European Union is attempting to revitalize its struggling semiconductor industry by reviving the "Chip Makers Act," a move expected to require €120 billion (approximately $140 billion) in public-private partnerships by 2035. The upcoming Chip Makers Act 2.0 will focus on practical measures to boost domestic demand for chips within the EU, as the original 2023 act failed in its efforts to expand EU market share. One major project under consideration is a €30 billion investment in a new factory to produce artificial intelligence semiconductors and advanced 3-nanometer chips. Funding for this project will be provided jointly by the European Commission, the EUs executive body, member states, and private companies. The European Commission will also facilitate connections between companies in the telecommunications, defense, and automotive sectors and chip suppliers, with the suppliers developing technologies to meet these companies needs. The draft is scheduled to be submitted to legislators next week, but changes are still possible.Federal Reserve Chairman Mussalem: Warsh will raise profound questions about how the Fed operates. Thats really refreshing.Federal Reserve Chairman Mussaleam: We are considering a greater than zero chance of raising interest rates.The Federal Reserve accepted a total of $1.163 billion from seven counterparties in its fixed-rate reverse repurchase operations.Federal Reserves Mussaleam: Most of the recent volatility in the bond market stems from expectations of a rise in the neutral interest rate.
