Russia's Ambassador-at-Large Marat Berdyev announced that China and a majority of APEC members support Russia's bid to chair the forum in 2035. Russia previously hosted APEC in 2012, receiving praise for its organization and initiatives like the environmental goods list and the APEC BEST AWARD.
Russia has never terminated its membership in the Steering Committee of the Peace Implementation Council, stated Russian Foreign Ministry Spokeswoman Maria Zakharova. She cited the 'chairmanship' of Christian Schmidt, supported by Western countries, as the reason for Russia's temporary participation freeze.
Alan Greenspan, who led the Federal Reserve from 1987 to 2006 and was a central figure in U.S. economic policy for nearly two decades, has died at 100. His tenure saw prolonged economic booms but also criticism for contributing to the 2008 financial crisis through lax regulation and low interest rates.
Russian President Vladimir Putin met with Singapore Prime Minister Lawrence Wong and wished Singapore a successful ASEAN chairmanship next year. Putin recalled Singapore as the location where Russia's strategic partnership with ASEAN was proclaimed during a 2018 summit.
Philippines President Ferdinand Marcos Jr. arrived in Kazan to attend the Russia-ASEAN summit. He was met by Rustam Minnikhanov, head of Tatarstan. The Philippines will hold ASEAN's rotating chairmanship in 2026. President Putin is also scheduled to meet with Marcos Jr. on the summit's sidelines.
Russia's Special Envoy for G20 and APEC, Marat Berdyev, stated that Western APEC members, including Australia, New Zealand, and Canada, are attempting to dissuade other member economies from supporting Russia's bid to chair the forum. Berdyev noted that these countries are hostile to Russia's application and are lobbying behind the scenes.
The Federal Reserve is expected to hold interest rates steady at Wednesday's meeting, likely marking Jerome Powell's last policy meeting as chairman. The Senate Banking Committee voted 13-11 along party lines to endorse Kevin Warsh as Powell's replacement, setting up a full Senate confirmation vote before Powell's term expires next month. The confirmation was cleared after Senator Thom Tillis dropped his blockade following DOJ's decision to drop its investigation of the Fed.
The Federal Reserve is expected to keep interest rates unchanged at Wednesday's policy meeting, which will likely be Jerome Powell's last as chairman. President Trump's nominee Kevin Warsh faces a Senate Banking Committee vote Wednesday, with full Senate confirmation expected before Powell's term expires next month. Senator Thom Tillis dropped his opposition to the vote after the Justice Department settled its investigation of the Fed. Warsh has pledged to maintain Fed independence and said Trump never asked him to commit to rate cuts.
Kevin Warsh, President Trump's nominee to replace Jerome Powell as Federal Reserve chair, testified before the Senate Banking Committee on Tuesday. Warsh advocated for using interest rates over balance sheet tools to fight inflation. Senators questioned his independence from Trump, who has pressured the Fed to lower rates. Sen. Thom Tillis vowed to block the nomination pending investigation into Fed headquarters renovations. The Fed is expected to keep rates unchanged at its upcoming April meeting.
