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Chinese foreign minister warns of "conflict and confrontation" with U.S. if policy doesn't change
China's Foreign Minister Qin Gang has accused the US of pushing for the destruction of Taiwan by instigating tensions between Taiwan and China, warning that the two countries are headed for "conflict and confrontation" if the US does not change its policy. Taiwan, which China claims sovereignty over, has declared itself independent of the People's Republic of China. The US does not have official relations with Taiwan, but has been stepping up engagement with the island as China seeks to isolate it from global institutions. Last month, CIA Director William Burns said that Chinese President Xi Jinping has ordered his military to be ready to invade Taiwan by 2027.
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We're testing a new segment to showcase fascinating stories that may not be receiving widespread coverage. Our goal is to use the same techniques for summarizing and removing bias as we do in our more sourced materials.
The Federal Reserve Chair, Jerome Powell, stated in prepared testimony before the Senate Banking Committee that the US central bank is prepared to raise interest rates higher than previously expected if economic data warrants it. Powell noted that although inflation has been moderating in recent months, the process of getting inflation back down to 2% will be bumpy and that the latest economic data suggests that the ultimate level of interest rates is likely to be higher than previously anticipated. If the data indicate that faster tightening is needed, the Fed would be prepared to increase the pace of rate hikes. The Fed's aggressive campaign to raise its benchmark lending rate has not negatively impacted the US economy, which has shown resilience, with payrolls increasing by more than 1 million jobs in the three months ending in January. Powell's remarks caused bond yields to rise, stocks to fall, and the dollar to gain.
Japan's Aerospace Exploration Agency (Jaxa) suffered a setback when it was forced to destroy its H3 rocket during a failed launch due to the second-stage engine's failure. The rocket was carrying a monitoring satellite capable of detecting North Korean missile launches, and its failure could have a significant impact on Japan's space business, technological competitiveness, and future space policy. The H3 rocket was designed to be a cheaper alternative to SpaceX's Falcon 9 for launching commercial and government satellites into Earth's orbit. The Japanese government apologized for the failed launch and promised to investigate the cause of the engine failure.
NEW YORK POST — More than 100 migrant kids found in abandoned trailer in Mexico
More than 100 unaccompanied migrant children were discovered inside an abandoned trailer in Mexico, along with 212 adults and 28 migrants traveling as families from Guatemala, Honduras, El Salvador, and Ecuador. The trailer was found abandoned without a driver along the side of a highway and had been rigged with fans and a metal structure that created a second level inside. The unaccompanied children will be placed into the custody of Veracruz's family services system while the other migrants will be processed to determine their legal status in Mexico.
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