Nearly 90% of the economists surveyed by Bloomberg expect Biden to keep Powell in the job, an overwhelming number that’s risen from June, while Fed Governor Lael Brainard, a Democrat, is seen as the likely choice by 9% of economists surveyed. Former Vice Chair Roger Ferguson was viewed as the pick by 2%. The poll of 52 economists was conducted Sept. 10-15.

“Risks are skewed to the downside amid the double whammy of macro weakness and regulatory uncertainty,” Morgan Stanley strategists including Laura Wang said in a research report. The Wall Street bank cut its targets for the HSI and Hang Seng China Enterprises Index by 4% while noting the difficulty in quantifying the impact of Beijing’s crackdown.

Advantages to CBDCs include more transparency and the ability to tackle organized crime, Prasad said in an interview. But the changes will go well beyond technocratic policymaking, with downsides including an erosion of privacy.

The trouble with stablecoins is that they slip through the regulatory cracks. They aren’t classified as bank deposits, so the Fed and the Office of the Comptroller of the Currency have limited ability to oversee them. The SEC has some authority if they are defined as securities, but that is a matter of active debate.

Value stocks, which trade at comparatively cheap multiples of their fundamentals, surged in early 2021 as hopes of an economic rebound boosted the shares of banks, energy firms and other economically sensitive names after years of underperformance.

India is usually in sync with the global bourses, but not this time! The confidence in the India story remains intact because of a regulatory boost by the Centre for enhancing manufacturing capabilities in various sectors.

Brent crude futures fell 33 cents to settle at $75.34 a barrel. US West Texas Intermediate (WTI) crude futures fell 64 cents to settle at $71.97 a barrel. For the week, Brent was up 3.3% and US crude was up 3.2%, supported by tight supplies due to the hurricane outages.

Between May 1 and Sept. 7, the six executives made early redemptions of 12 investment products, Evergrande said in a statement on its website, without identifying the executives or giving details on the nature of the products.

Authorities are looking into whether Binance or its staff profited by taking advantage of its customers, Bloomberg reported, citing people with knowledge of the matter.

Though most top exchanges saw a surge in buying activity in the last few weeks, as much as 60-80% of all transactions are now happening through some of the new methods introduced by the crypto exchanges.