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Real-time News
On February 7th, Federal Reserve Chairman Daly wrote that when communicating with businesses, they exhibit cautious optimism. Economic growth is strong, consumer spending remains stable, job supply is ample, and increased productivity is helping to control costs. However, after speaking with workers, they are less certain. This is reflected in recent polls, which show Americans expect fewer jobs and a rising unemployment rate. In many ways, this disconnect is justified. We are already in a period of relatively low hiring and layoffs, and this has been the case for some time. This situation may continue, but workers are keenly aware that it could change rapidly, leaving them in a labor market with fewer hires and more layoffs. This situation is indeed unsettling, given that inflation is above the FOMCs 2% target. And what does this mean for policy? We must balance both sides of our mission. Americans need both price stability and full employment, and we cannot take either for granted.On February 7th, the General Administration of Customs issued Announcement No. 18 of 2026, promulgating the "Interim Measures of the Customs of the Peoples Republic of China for the Supervision of Business Premises and Goods Subject to Zero Duty Import for Consumption by Residents in the Hainan Free Trade Port." These measures officially came into effect on the date of issuance. The Measures clarify that the Customs will supervise the "zero duty" duty-free shops and "zero duty" imported goods in the Hainan Free Trade Port in accordance with the management regulations for duty-free shops and duty-free goods. Specifically, "zero duty" imported goods must be imported from overseas and processed through customs procedures by the operating units of the "zero duty" duty-free shops, and must be sold in designated areas (counters) within the duty-free shops, and must not be stored together with other goods. Residents of the island must proactively present their valid identification documents when purchasing "zero duty" imported goods for verification of identity.Market news: Abu Dhabi National Oil Company and Rhein Group will explore new opportunities to supply liquefied natural gas to the German and European markets.Market news: The Iranian delegation has left Muscat.Federal Reserves Daly: Businesses are cautiously optimistic, while workers are less certain.
