[overnight global news you need to know on Thursday] 1. The Fed announced that it would keep the current target range of 5% to 5.25% of the federal funds rate unchanged, in line with market expectations, and this is the first time that the Fed has pressed the "pause button" since the aggressive rate hike cycle began in March last year. 2. The Fed bitmap shows that the median expected interest rate at the end of 2023 is 5.6%, and it is expected to raise interest rates twice this year. The median expected interest rate is 4.6% at the end of 2024 and 3.4% at the end of 2025. 3. Fed Chairman Colin Powell said that the Fed remains firmly committed to the 2% inflation target, that it is not appropriate to cut interest rates this year, that no policy makers expect to cut interest rates this year, and that suspending interest rate increases does not mean "skipping interest rate increases." 4. PPI in the United States rose 1.1% in May from a year earlier, the lowest since December 2020, and is expected to rise by 1.5%, compared with a previous rise of 2.3%. 5. The Federal Reserve raised its forecast for US GDP growth to 1.0% in 2023 and is expected to increase by 0.4% in March. Microsoft founder Bill Gates tweeted that he had arrived in Beijing for the first time since 2019. S & P confirmed Brazil's BB- rating and adjusted its outlook to positive. 8. The American Association of Music Publishers has sued Twitter, accusing the company of infringing their copyright by using songwriters' music on its platform without permission. 9. Google issued a statement of opposition to the allegations made by the European Commission, saying that many companies provide integrated advertising technology services to advertisers and publishers, just like Google, whose advertising technology fees are transparent and in line with industry standards. 10. The Bank of England has agreed to conduct an external review of its forecasting process because of its failure to predict the scale of the current inflation shock. The Indian government is considering setting the concession rate for lithium mining at 3 per cent of the current price on the London Metal Exchange (LME). 12. Citigroup CFO says Citi has paid severance payments to 5000 employees this year and 1600 so far in the second quarter, resulting in costs of $300m to $400m. 13. The three major indexes of US stocks closed mixed, with the Dow down 0.68%, the Nasdaq up 0.39%, the S & P 500 up 0.08%, hot Chinese stocks up, and the NASDAQ China Golden Dragon Index up 2.34%. 14. WTI July crude oil futures closed down 1.66% at US $68.27 per barrel, while Brent August crude oil futures closed down 1.47% at US $73.20 per barrel. COMEX August gold futures closed up 0.53% at $1968.9 an ounce.