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Business and Market Discussion / Wealth Connect

2022-06-23

Business and Market Discussion / Wealth Connect

2022-06-23
 Federal Reserve chairman Jerome Powell has told Congress that the US economy is resilient but warned a recession is “certainly a possibility” and avoiding a downturn now largely depends on factors outside the Fed’s control. In his testimony to the Senate banking committee yesterday, Mr. Powell said it was now more challenging for the central bank to combat soaring inflation while maintaining a strong job market because factors such as the war in Ukraine and China’s Covid-19 policy, complicate the outlook. 


At the start of the BRICS Business Forum in Beijing on Wednesday, President Xi Jinping has criticised the West for its sanctions on Russia, saying they have politicised and weaponised the economy. He said in a video address that “it has been proven again that sanctions are boomerangs and double-edged swords that politicise, instrumentalise and weaponise the world economy.” Without naming specific countries, he said “those using their leading position in the international financial and monetary system to impose sanctions recklessly will only end up harming others and themselves and make people across the world suffer.” 


US Trade Representative Katherine Tai said on Wednesday that she views tariffs on Chinese goods as “a significant piece of leverage” in the US-China trade relationship. She told a US Senate Appropriations subcommittee that it was important to protect American trade interests against China’s plans to dominate important industries such as semiconductors. 


On today’s Money Talk, we’re joined by Personal Wealth Adviser Enzio Von Pfeil and Andrew Sullivan of Outset Global. Speaking about the GBA WealthConnect platform is Christine Ho from InvestHK. 

Money Talk

A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years' industry experience. Join Peter and his expert guests for analysis and discussion on the day's top business stories live every weekday morning 8 to 8:30 a.m. on RTHK Radio 3. We have a podcast to download after the show and you can also listen through the RTHK Radio 3 website live or later in the day. We welcome your questions, comments and feedback to read out in the show. You can email us at moneytalk@rthk.hk, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
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