Trump adopts a new approach to pressure Powell to resign
According to a report by Jinse Finance, Sandra Thompson, Director of the U.S. Federal Housing Finance Agency (FHFA), has called on Congress to investigate Federal Reserve Chair Jerome Powell, stating that his recent testimony before the Senate regarding the Fed headquarters renovation plan was "deceptive." Pulte said, "I urge Congress to investigate Powell, looking into his political bias and deceptive Senate testimony—these are sufficient grounds for 'just cause' to remove him from office." Reports on this matter by Pulte were reposted by Trump, who also stated that Powell should resign immediately. Previously, media outlets reported that the cost of the Fed headquarters renovation project has been continuously rising and includes several luxury design elements. At a Senate hearing last week, Powell refuted some of the content in these reports, calling them "misleading and untrue in many respects."
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Korean retail investors shift to the US in Q3: Sold over 5.5 trillion won of Korean stocks, purchased more than 10 trillion won of US stocks
In the third quarter, Korean retail investors made net purchases of US stocks worth approximately 10.15 trillion won, marking a complete reversal from the previous pattern in the first half of the year, when they made net purchases of nearly 100 trillion won in KOSPI stocks. In September alone, the sell-off amount reached as high as 14.2 trillion won. Analysts attribute this shift to a combination of factors: a sharp decline in KOSPI at high levels, the continued strength of the US stock market driven by AI themes, and the appreciation of the Korean won reducing currency exchange costs.
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