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CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

Headline CPI Ticks Down To 0.2% Y/Y, PPI In Line

CHINA JUNE FOOD PRICES -2.1% Y/Y VS -2.0% Y/Y MAY

CHINA JUNE CPI +0.2% Y/Y VS MEDIAN +0.4%; MAY +0.3% Y/Y: NBS

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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FOMC Participant Turnover Continues With KC George's Retirement

FED

The announcement that KC Fed Pres George is retiring in January 2023 is not a surprise - she and Chicago's Evans (as previously announced) are leaving Jan 2023 so a decent amount of turnover at the regional level early next year (in addition to the changes at the Dallas and Boston Feds this year, not to mention multiple new Board governors).

  • Regional Fed presidents can serve until they turn 65. Exceptions are made if they enter the position after the age of 55 - if so they can stay for 10 years, or until they turn 75, whichever occurs first.
  • According to Brookings, next up on the retirement watch are Cleveland's Mester (May 2024); then Philadelphia's Harker (June 2025), then St Louis's Bullard (Feb 2026).
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