Even if the U.S. economy is on the verge of a crisis, Fed Chairman Powell is really good at solving it one by one

United States of America

Fed FOMC freezes federal funds rate at 5.25% to 5.5%. GDP growth is raised from 1.4% to 2.1% in 2024, from 1.8% to 2.0% in 2026, and from 1.9% to 2.0% in 2026. PCE price outlook remained unchanged at 2.4% this year, from 2.1% to 2.2% in 2025 and 2.0% in 2026. The unemployment outlook fell to 4.0% from 4.1% this year and remained unchanged at 4.1% next year and 4.1% next year and 4.1% next year

Intel plans to spend $100 billion (W134.1 trillion) nationwide over the next five years, including the “New Albany Project,” which will become a regional cluster of semiconductor manufacturing

China

Xiaomi President Lu Weibing Says Xiaomi’s EV SU7 Sales Network consists of a company-operated delivery center that integrates showrooms, sales, services, and customer engagement capabilities, and a Xiaomi Mi Home retailer designed to sell only existing Xiaomi-branded electronics

During talks with Chinese Foreign Minister Wang Yi and Australian Foreign Minister Penny Wong, she said she hoped a good atmosphere of mutual exchange would be maintained. She stressed that China has always pursued an independent and peaceful foreign policy and that Australia’s policy is consistent. She added that independence is an important principle in Australia’s foreign policy, adding that the development of China-Australia relations should not be for third parties nor should it be influenced or hindered by third parties

Korea

The Seoul Metropolitan Government decided to revise the plan to promote the reorganization of the Sewoon Reorganization Promotion District. Sampoong Shopping Center and PJ Hotel are urban planning facilities projects, and the rest of the shopping malls will be gradually converted into parks through integrated development with maintenance areas or the integrated development of donation collection sites and shopping malls. When the facility project for the Sampoong Shopping Center and PJ Hotel is completed, an urban park with an area of about 11,000 square meters will be created on the ground, and a 1,500-seat musical performance hall will be built underground

According to the Korea International Trade Association, EBSI in the second quarter of 2024 was 116.0, the highest level since 120.8 in the second quarter of 2021. Of the 15 items surveyed, semiconductors (148.2) were the highest in 27 quarters, leading the overall export industry, and eight items, including ships (127.6) and automobiles and auto parts (124.5) are also expected to improve export conditions in the second quarter

Other

ECB President Lagarde says the ECB will continue to check new indicators whenever they come out and decide on interest rate policy accordingly. This means that even if the first rate cut is made, a specific rate move cannot be determined in advance

Indonesia’s central bank freezes benchmark seven-day repo to 6.0 percent. President Warjiyo said the decision was in line with efforts to maintain stability in the rupiah and curb inflation

The New York Times reports that the Saudi government is trying to invest in AI by creating a $40 billion fund through a public investment fund. Recently, a Saudi delegation has contacted Silicon Valley’s venture investment funds

[Investment strategy of Daishin Securities / Telegram channel]