Core Viewpoint - The Atlanta Fed President Bostic expresses concerns about inflation and indicates he does not plan to support another rate cut in October, despite rising employment risks [2][3]. Summary by Sections Economic Outlook - Bostic has only planned one rate cut for the entire year of 2025, suggesting no further cuts are needed in the remaining meetings of 2023 [2]. - He acknowledges that the balance of risks has shifted, with employment concerns and inflation being more equal than three months ago [3]. Inflation Concerns - Bostic worries that inflation remains persistently above the Fed's 2% target, with core inflation projected to rise from 2.9% in July to 3.1% by year-end [5]. - He anticipates that inflation may not return to the 2% target until 2028 [5]. Labor Market Dynamics - Bostic believes the current labor market is not in crisis, but the extent of its weakness is still uncertain [5]. - He estimates that limited labor supply accounts for about one-third of the recent slowdown in hiring, with immigration policies potentially exacerbating these challenges [6][7]. Tariff Impact - The impact of tariffs on consumer prices is still unclear, as companies have adopted various strategies to mitigate cost increases [5]. - Bostic notes that the cost increases from tariffs have been more moderate than initially expected, but these buffers may deplete in the coming months, leading to prolonged moderate price pressures [5].

Core Viewpoint - The Trump administration's tariff policies are perceived to be detrimental to American businesses, leading to a lack of intention to increase domestic investments among corporate leaders [1][5]. Group 1: Corporate Sentiment - During a closed-door meeting organized by Yale School of Management, 62% of corporate executives indicated they have no plans to increase investments in U.S. manufacturing and infrastructure [5]. - A survey conducted by Yale revealed that 71% of senior executives believe the U.S. government's tariff policies have harmed their businesses [6]. Group 2: Impact on Consumers and Companies - Over 70% of executives stated that the costs of tariffs are ultimately borne by American consumers and domestic import companies [6]. - The recent ruling by the U.S. Court of Appeals, which deemed several "universal tariffs" implemented by the Trump administration as illegal, was supported by approximately 75% of surveyed executives [6]. Group 3: Economic Confidence - Concerns regarding tariffs, immigration policies, and overall economic conditions have created pressure on corporate leaders, resulting in a lack of confidence to pursue new investments [6]. - 71% of executives expressed that the independence of the Federal Reserve has been undermined due to pressure from the Trump administration [6].

Core Points - A significant anti-immigration protest occurred in the Netherlands, leading to violent clashes between police and demonstrators [1][2] - The protest was organized by a right-wing activist and drew thousands of participants demanding stricter immigration policies and action against asylum seekers [1] - Police used tear gas and water cannons to disperse the crowd, resulting in 30 arrests and injuries to 2 officers [1] Group 1 - The protest involved demonstrators waving Dutch flags and those associated with far-right groups, with incidents of stone and bottle throwing [2] - A police vehicle was set on fire, and a highway was briefly blocked by protesters [2] - Protesters vandalized the headquarters of the Dutch 66 Democratic Party, prompting a strong response from the party leader on social media [4] Group 2 - A small group of protesters attempted to reach the Dutch Parliament building, which was barricaded due to ongoing renovations [4] - Authorities indicated that further arrests could occur as they review surveillance footage from the protest [1]

Group 1 - The Trump administration has raised the H-1B visa fee to $100,000 annually, citing "systemic abuse" of the program by companies [1] - The current H-1B visa fee is typically under $5,000, and the new fee applies to both initial applications and renewals [1] - The policy aims to prevent companies from using H-1B visas to hire entry-level employees, focusing instead on attracting top engineers and high-level managers [1] Group 2 - Trump stated that the funds generated from the increased fees will be used for tax cuts and debt reduction [2] - The new immigration policies may face legal challenges, and if implemented, could significantly tighten the U.S. legal immigration system [2]

同一天，美国移民与海关执法局在芝加哥西郊布罗德维尤一拘留中心外与抗议者发生冲突，并向人群投 掷催泪瓦斯，现场视频显示抗议者遇化学刺激物后迅速四散。 当地时间9月19日，美国移民与海关执法局（ICE）表示，自启动"中途行动"（Operation Midway Blitz） 以来不到两周，已在芝加哥地区逮捕超400人。 据悉，美政府正推动在全美主要城市加大移民执法力度，"中途行动"是继洛杉矶、华盛顿特区后的又一 大规模执法行动，相关举措引发外界对移民政策的强烈争议。批评者指责执法中存在过度使用武力、误 抓美国公民等问题，但特朗普的支持者则认为此举兑现了大规模驱逐移民的承诺。 （文章来源：央视新闻） ...

Core Viewpoint - The newly appointed Federal Reserve Governor Miran stated that the low interest rate expectations in the September dot plot were provided by him, indicating a specific stance on monetary policy [1] Group 1 - Miran does not believe that tariffs will cause any substantial inflation, suggesting a view that current trade policies may not significantly impact price levels [1] - He asserts that Trump's immigration policies will have a counter-inflationary effect, implying that these policies could help stabilize or reduce inflationary pressures [1]

Core Viewpoint - Japan is facing a severe aging population crisis, with 29.4% of its population aged 65 and older, the highest in the world, and projections indicating this could rise to 37.1% by 2050 [4][7]. Group 1: Aging Population Statistics - As of the latest data, Japan has 36.19 million people aged 65 and older, marking a historical high [4]. - The number of people aged 70 and above is 29.01 million, while those aged 75 and above total 21.24 million [7]. - The population aged 100 and above is nearing 100,000, with a year-on-year increase of 4,644 individuals [7]. Group 2: Employment Trends Among the Elderly - The number of employed individuals aged 65 and older has reached 9.3 million, an increase of 160,000 from the previous year, marking a record high for 21 consecutive years [7]. - Elderly workers now represent 13.7% of the total workforce, indicating that one in seven workers is aged 65 or older [7]. - Employment rates for those aged 65-69 stand at 53%, while 35% for those aged 70-74, and 12% for those aged 75 and above [7]. Group 3: Government Policies and Labor Shortages - The Japanese government has revised the "Elderly Employment Stability Law" to improve working conditions for older employees and mitigate rising workplace injury risks [8]. - A report from Oxford Economics highlights the urgent need for Japan to reform its immigration policies to address labor shortages exacerbated by an aging population [10]. - The number of foreign residents in Japan increased by 350,000 in 2024, a 10.5% rise, marking the largest increase since records began in 2013 [10]. Group 4: Public Sentiment and Political Landscape - The issue of immigration has become a focal point in Japanese elections, with mixed public sentiments ranging from concerns about foreign students to criticisms of government policies favoring foreigners [11]. - The current political climate shows a trend towards more conservative immigration policies, with potential candidates advocating for stricter measures against foreign workers [11].

Group 1: Aging Population Data - Japan's elderly population aged 65 and above has reached 36.19 million, accounting for 29.4% of the total population, marking a historical high [2][4] - The proportion of elderly individuals is projected to rise to 37.1% by 2050, indicating a worsening aging crisis [2] - The number of centenarians in Japan is nearing 100,000, with an increase of 4,644 from the previous year [4] Group 2: Employment Trends Among the Elderly - The employment number for those aged 65 and above has reached 9.3 million, an increase of 160,000 from the previous year, representing a record high [5] - Elderly workers now make up 13.7% of the total workforce, with 1 in 7 workers being 65 or older [5] - Employment rates among different age brackets show that 53% of those aged 65-69 are employed, 35% of those aged 70-74, and 12% of those aged 75 and above [5][6] Group 3: Labor Shortage and Immigration Policy - Japan is facing its most severe labor shortage in 35 years, particularly in the non-manufacturing sector [7] - The number of foreign residents in Japan has increased by 350,000, reaching 3.77 million, marking the largest growth since records began in 2013 [7][8] - The current immigration influx is deemed unsustainable, and there is a need for a comprehensive immigration policy to address labor shortages and integrate foreign workers into society [8]

Core Insights - The proposed 1% remittance tax in the U.S. by 2026, combined with stricter immigration policies from the Trump administration, is expected to significantly impact remittance flows to Latin America, particularly affecting Central American countries that heavily rely on these funds [1] Remittance Tax Impact - The remittance tax is projected to have a relatively small effect on the total remittance volume, with an average decrease of only 0.38% for the four countries analyzed if the receiving parties bear the full tax burden [1] - However, the combination of the tax and stricter immigration policies may exacerbate the reduction in remittances [1] Financial Loss Estimates - Guatemala is expected to lose approximately $9.59 million, El Salvador $3.01 million, Colombia $2.03 million, and Mexico, despite a smaller percentage decrease of 0.33%, will see an absolute loss of $207.8 million [1] Immigration Structure - Mexico has the highest number of undocumented immigrants at 4.3 million, while Central American countries have a higher proportion of undocumented immigrants, making them more vulnerable to changes in remittance flows [1] - Guatemala and El Salvador each have 850,000 undocumented immigrants, with remittances constituting a significant portion of household income [1]

Group 1 - The core point of the article highlights that despite the Trump administration's efforts to revitalize manufacturing through economic policies, U.S. manufacturers are significantly reducing jobs [1] - In August, the U.S. manufacturing sector lost 12,000 jobs, and since April, a total of 42,000 jobs have been cut in this industry [1] - The job losses are attributed to three main actions by the Trump administration: imposing new tariffs, a hardline stance on immigration, and the "Big and Beautiful" bill supported by the Republican Party, which negatively impacts renewable energy companies [1] Group 2 - The report indicates that by 2025, the total number of jobs in U.S. manufacturing is expected to decrease by 33,000, with layoffs concentrated in durable goods sectors such as automotive, home appliances, and electronics [1] - The overall hiring pace in the U.S. job market has slowed significantly, which is occurring against the backdrop of manufacturing layoffs [1] - The uncertainty surrounding the scale and scope of tariffs has left manufacturing companies in a passive position, leading to increased costs and reduced hiring willingness [2] Group 3 - The ongoing legal challenges against the Trump administration's tariffs further exacerbate uncertainty in the manufacturing sector, making it difficult for companies to plan for the future and make investment decisions [2] - The crackdown on immigration by the Trump administration is also impacting manufacturing recruitment, as immigrants have been a crucial labor source for certain manufacturing sectors [3] - The reduction in labor supply from immigration cuts may drive companies to adopt more automated and capital-intensive manufacturing processes [3]