Summary of Middle East Developments and Multiple Macroeconomic Policy Updates
According to TechFlow, on September 28, citing Jinshi Data, tensions in the Middle East continue to escalate. Iran claims to have captured a U.S. unmanned underwater vehicle in the Strait of Hormuz. Trump anticipates further talks with Iran later this week and criticizes the other side for its excessive demands. U.S. media citing sources say both sides could launch a new round of indirect negotiations in New York as early as Monday, but Iranian media reported that Iran’s foreign minister will return on Tuesday, ruling out any current plans for talks in New York. Additionally, Libya’s main crude oil pipeline has resumed operations.
On the macroeconomic and sectoral fronts, Bessent has urged the Federal Reserve to maintain an open mind regarding the inflation outlook. Domestically, China Mobile, China Telecom, and China Unicom have collectively suspended their “0-yuan device purchase” promotional campaigns. He Yang from the China Academy of Information and Communications Technology stated that China has preliminarily met the conditions to begin research on computing power futures. Meanwhile, the People’s Liberation Army Southern Theater Command conducted joint military exercises in the maritime and aerial areas surrounding Huangyan Island.
