Core Viewpoint - The recent decline in gold stocks is attributed to increased volatility in the international gold market, with expectations of a potential rise in gold prices due to liquidity easing by the Federal Reserve and escalating global geopolitical conflicts [1] Group 1: Company Performance - China Gold International (02099) fell by 6.21%, trading at 188.9 HKD [1] - Zijin Mining (02899) decreased by 5%, with a price of 39.56 HKD [1] - Zijin Gold International (02259) dropped by 4.82%, priced at 205.2 HKD [1] - Chifeng Jilong Gold Mining (06693) saw a decline of 4.77%, trading at 35.9 HKD [1] Group 2: Market Analysis - Galaxy Securities reported that the market's excessive expectations regarding the Federal Reserve's independence and liquidity premium are leading to a correction after a significant short-term price increase [1] - Dongfang Securities noted that the recent nomination of Waller as the next Federal Reserve Chair has eased concerns about aggressive monetary policy, leading to a short-term adjustment in precious metals trading [1] - The fundamental logic for precious metals remains unchanged despite the recent market fluctuations [1]

美国财政部长贝森特国会听证会表态，再度将美联储货币政策独立性推至舆论焦点。他称"总统有权对美 联储决策施加影响"，与此前立场相悖，叠加行政分支对美联储的持续施压，市场开始关注美国金融体系 核心机制的稳定性。 美联储独立性当前面临多重考验，司法调查、官员任免争议、政策立场分歧相互交织。作为全球重要央 行，美联储决策稳定性既影响美国国内经济运行，也会传导至全球市场。未来最高法院裁决结果、行政与 央行的博弈走向，将持续影响市场预期及金融市场稳定。 美联储独立性源自1913年《联邦储备法》，是美国金融体系的基石。制度设计初衷是隔离货币政策与直接 民选官员控制，保障决策贴合经济基本面与公共利益。贝森特虽补充称美联储应保持独立性，且这种独立 性依赖公众信任，但对总统干预权的认可、对美联储官员罢免问题的模糊回应，加重了外界担忧。 经济学家警示，美联储独立性受损会削弱市场对美国经济及金融体系的信心。此外，贝森特听证会上提及 的强美元立场，与行政分支偏好弱美元的表态不符。叠加去年美元指数累计下跌超9%的走势，政策协调问 题已成为市场关注重点。 过去一年，行政分支多次向美联储施压，包括要求下调基准利率、试图解除美联储理事职务，司 ...

美国总统特朗普公开表示，如果其美联储主席提名人选沃什表达加息意愿，他根本不会获得提名。这一 表态再次引发市场对美联储独立性的担忧，并可能成为沃什参议院确认听证会上的焦点议题。 沃什的提名确认过程预计将面临严格审查，美联储独立性料将成为核心议题。 共和党参议员Thom Tillis是参议院银行委员会成员，他已承诺将阻止特朗普对美联储的所有提名人选， 直到司法部结束对美联储装修项目的调查。 即将离任的美联储主席鲍威尔此前称这项调查是对美联储独立决定货币政策能力的变相攻击。特朗普政 府官员否认这一意图，但总统本人已对鲍威尔发起长达数月的降息施压行动。 沃什的立场转变 特朗普周三在接受NBC新闻采访时明确指出，"如果他进来说'我想加息'，他就不会得到这份工作，不 会。"特朗普强调，美联储降息"毫无疑问"，因为"我们的利率太高了"，而现在"我们又是一个富裕的 国家了"。 当被问及沃什是否理解特朗普希望他降低基准利率时，特朗普回应称："我认为他理解，但我认为他本 来也想这么做。"这番言论直接揭示了白宫对货币政策走向的明确预期。 特朗普的公开施压可能加剧市场对美联储政策独立性的质疑，并为即将到来的人事确认程序增添变数。 确 ...

美联储主席换届突生变数。 据最新消息，美国国会参议院银行委员会的全体11名民主党人要求推迟候任美联储主席凯文·沃什的全部 提名程序，直至针对现任主席鲍威尔等美联储理事的刑事调查终止。有评论称，特朗普政府调查鲍威尔等 人恐适得其反。 上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限量发放！先到先得！ 与此同时，美国总统特朗普"心腹"斯蒂芬·米兰的最新动作也引发市场关注。当地时间2月3日，米兰已辞 去白宫经济顾问委员会主席一职，他将继续担任美联储理事一职，直至继任者获得确认。 市场预期沃什 或将接替米兰的理事席位。 沃什的变数 2月4日，据新华社消息，美国国会参议院银行委员会的全体11名民主党人3日致信该委员会主席蒂姆·斯 科特，要求推迟沃什的全部提名程序，直至针对鲍威尔等美联储理事的刑事调查终止。 回顾此前，特朗普1月30日提名美联储前理事沃什出任下一任美联储主席。据英国《金融时报》报道，沃 什的提名将先由参议院银行委员会审议，之后诉诸参议院全院表决。银行委员会现有11名民主党人和13 名共和党人，但其中一名共和党人汤姆·蒂利斯已威胁反对沃什乃至任何美联储相关人事提名，直至针对 鲍威尔的 ...

Group 1 - The core viewpoint of the article revolves around U.S. Treasury Secretary Becerra's testimony at a House Financial Services Committee hearing, where he engaged in a heated debate with Democratic lawmakers regarding tariffs, Federal Reserve independence, and exchange rate policy [1][2] - Becerra stated that "tariffs will not lead to inflation," citing a study from the San Francisco Fed, and corrected his previous assessment from January 2024 that tariffs would raise inflation, asserting that the U.S. economy has continued to grow and inflation has decreased since the implementation of tariffs [1] - The hearing highlighted significant partisan divisions in U.S. Congress regarding economic policy, with Democratic lawmakers challenging Becerra's statements and accusing him of being a "puppet" for Trump, reflecting ongoing uncertainty about the future direction of economic policies under the Trump administration [2] Group 2 - On the issue of Federal Reserve independence, Becerra expressed support but emphasized that this independence must be based on public trust, criticizing the Biden administration for allowing high inflation, which he believes has eroded that trust [2] - Becerra reiterated support for a strong dollar policy and mentioned that the U.S. Treasury attracted a record inflow of foreign funds into government bonds last year, predicting a slight decline in the yield of 10-year U.S. Treasury bonds [2]

智通财经获悉，美国总统特朗普日前表示，若潜在提名人选凯文·沃什曾表态希望加息，他将不会获得 美联储主席的提名。 "如果他进来就说'我想加息'，那他绝对得不到这份工作，不可能。"特朗普在周三接受采访时如此表 态。 即将离任的美联储主席杰罗姆·鲍威尔此前指责该项调查是对央行货币政策独立决策能力的"隐晦攻 击"。特朗普政府官员虽否认此意图，但总统本人近月来持续向鲍威尔施加降息压力。 值得注意的是，曾以"通胀鹰派"形象著称的前美联储理事沃什，近期已多次公开表态支持降息。此番提 名博弈不仅折射出白宫对货币政策的强势干预，也使美联储百年来的独立性传统面临严峻考验。有分析 人士指出，沃什若获提名，其亟需施展备受推崇的斡旋能力，在政治压力与央行专业判断之间寻求平 衡。 此外，美国财政部长贝森特周三在国会听证会上表示，总统有权对美联储的决策过程施加影响， 尽管如此，贝森特同时强调，他相信美联储应保持货币政策独立性，这种独立性建立在美国公众信任之 上，并应接受问责。 特朗普称美联储降息"几乎没有悬念"，理由是当前利率"处于过高水平"，并称美国"如今已重归富裕国 家行列"。 当被问及沃什是否理解其希望降低基准利率的意图时，特朗普回 ...

即将离任的美联储主席杰罗姆·鲍威尔此前指责该项调查是对央行货币政策独立决策能力的"隐晦攻 击"。特朗普政府官员虽否认此意图，但总统本人近月来持续向鲍威尔施加降息压力。 值得注意的是，曾以"通胀鹰派"形象著称的前美联储理事沃什，近期已多次公开表态支持降息。此番提 名博弈不仅折射出白宫对货币政策的强势干预，也使美联储百年来的独立性传统面临严峻考验。有分析 人士指出，沃什若获提名，其亟需施展备受推崇的斡旋能力，在政治压力与央行专业判断之间寻求平 衡。 此外，美国财政部长贝森特周三在国会听证会上表示，总统有权对美联储的决策过程施加影响， 贝森特当天出席美国众议院金融服务委员会听证会。密苏里州民主党众议员Emanuel Cleaver询问他，是 否会建议总统"在言辞和政治层面干预"美联储的决策。贝森特回应称："这是他的权利……也是在座每 个人的权利。" 智通财经APP获悉，美国总统特朗普日前表示，若潜在提名人选凯文·沃什曾表态希望加息，他将不会 获得美联储主席的提名。 "如果他进来就说'我想加息'，那他绝对得不到这份工作，不可能。"特朗普在周三接受采访时如此表 态。 特朗普称美联储降息"几乎没有悬念"，理由是当前利率" ...

Core Viewpoint - The hearing highlighted significant partisan divisions regarding the Trump administration's economic policies, particularly on tariffs, Federal Reserve independence, and financial regulation, raising investor concerns about future policy directions [1][2]. Tariff Dispute - Treasury Secretary Mnuchin asserted that tariffs would not lead to inflation, citing a Federal Reserve report based on 150 years of data, which was met with fierce criticism from Democratic lawmakers [3]. - Democratic representatives challenged Mnuchin's stance, with claims that rising prices in their districts contradicted his assertions, emphasizing the burden of increased costs on consumers [3]. Federal Reserve Independence - Mnuchin expressed support for the Federal Reserve's independence in monetary policy but emphasized the need for accountability, linking the Fed's credibility to public trust [4]. - He stated that the President has the right to comment on Fed decisions, which raised concerns about potential political interference in monetary policy [4]. Currency Policy - Mnuchin reaffirmed the administration's commitment to a strong dollar policy, although this stance has been questioned in light of recent protectionist trends [5]. - He noted that despite criticisms, U.S. Treasury bonds attracted record foreign investment, indicating confidence in U.S. financial markets [5]. Market Comments and Regulation - During the hearing, Mnuchin defended Trump's social media comments regarding stock purchases, dismissing calls for an investigation into potential market manipulation [6]. - He criticized previous regulatory actions as reactive rather than preventive, suggesting that the focus had shifted away from essential safety and soundness issues [6]. Housing and Community Banking - Mnuchin highlighted the need for affordable housing and called for tailored regulations to support community banks, which he believes are crucial for a thriving banking ecosystem [8][9]. - He linked rising housing prices to increased immigration, suggesting that demand pressures contributed to affordability issues [8]. Overall Hearing Dynamics - The hearing was marked by intense exchanges, with Democratic lawmakers accusing Mnuchin of acting as a mouthpiece for Trump, leading to a chaotic atmosphere [10][11]. - Mnuchin's responses to questions were often combative, reflecting a contentious political environment and raising questions about his ability to effectively communicate policy positions [11][12].

Group 1 - The U.S. Treasury Secretary, Becerra, stated that the President has the right to influence the Federal Reserve's decision-making process, raising concerns about the independence of the Fed's monetary policy [1][2] - Becerra emphasized the importance of the Fed's independence, which is based on public trust, and mentioned that it should be held accountable [1][2] - Economic experts warned that any erosion of the Fed's independence could undermine market confidence in the U.S. economy and financial system [2] Group 2 - Becerra acknowledged differing opinions within the Trump administration regarding the applicability of the "unitary executive theory" to the Federal Reserve, which suggests that presidential powers should be exclusive [2] - The independence of the Federal Reserve has been a cornerstone of the U.S. financial system since the Federal Reserve Act of 1913 [2] - Becerra's recent comments contrasted with his previous stance that the President would not interfere with the Fed's independence, as he criticized the Fed for its handling of inflation and mentioned cost overruns in the Fed's headquarters renovation project [2] Group 3 - Becerra discussed the dollar's performance, noting that the dollar index fell by over 9% last year, while asserting support for a strong dollar policy [3] - This position on a strong dollar conflicts with President Trump's preference for a weaker dollar, which is typically seen as beneficial for U.S. export competitiveness [3]

Core Viewpoint - The hearing highlighted significant partisan divisions regarding the Trump administration's economic policies, particularly on tariffs, Federal Reserve independence, and financial regulation, raising investor concerns about future policy directions [1][2]. Tariff Dispute - Secretary Mnuchin asserted that "tariffs will not lead to inflation," citing a Federal Reserve report based on 150 years of data, which was met with fierce criticism from Democratic lawmakers [3]. - Democratic representatives challenged Mnuchin's stance, with claims of price increases in their constituencies, and questioned the administration's approach to tariff exemptions for essential goods [3]. Federal Reserve Independence - Mnuchin expressed support for the Federal Reserve's independence in monetary policy but emphasized the need for accountability, linking the Fed's credibility to public trust [4]. - He acknowledged that the President has the right to comment on Fed decisions, which raised concerns about potential political interference [5]. Currency Policy - Mnuchin reaffirmed the administration's commitment to a strong dollar policy, although this stance has been questioned in light of recent economic trends favoring a weaker dollar [5][6]. - He noted that U.S. Treasury bonds attracted record foreign investment, indicating confidence in U.S. financial markets despite criticisms of the administration's currency policy [6]. Market Comments and Regulation - The hearing included discussions on Trump's social media comments regarding stock purchases, with calls for investigations into potential market manipulation [7]. - Mnuchin criticized previous regulatory actions as reactive rather than preventive, suggesting that the focus had shifted away from essential financial stability issues [7]. Housing and Community Banking - Mnuchin highlighted the need for tailored regulations for community banks, arguing that current regulations hinder their success and contribute to housing affordability issues [10]. - He pointed out that the average age of first-time homebuyers has risen to 40, indicating a crisis in housing accessibility [10]. Overall Tone of the Hearing - The hearing was marked by intense exchanges, with Democratic lawmakers accusing Mnuchin of acting as a mouthpiece for Trump and failing to address critical issues affecting the American public [11][12]. - Mnuchin's responses often reflected a defensive posture, indicating a challenging political environment for the administration's economic policies [12][13].