so we had a phrase that,you know,money make the world go around.but ,you might ask yourself once or twice,ok,well,who makes the money go around.so the answer is the federal recess,or as my friend xx called that the fed.fed is pretty muck unlike any other US institution that i can think of.its run by board governors base in Whashington DC,it has 12 federal reserve bank located around the main banking centres of the country. so places by newyork,sanfrancisco,philodelphia, the presidents of these banks and board governors,they need xxx to make big policy decision and to ensure the economy is moving at a stable quick.so congress oversees fed,but the fed does not really answer to the congress.the fed operates completely independently, because they don't care about politics.all it cares about is basiclly two things.no.1,keeping prices stable,and no.2,trying its best to ensure that everbody who wants a job get one.so if the economy is heating up,it trys to cool things down by raising the cost of borrowing by making it harder to borrow money, and if things getting too cold,it does the opposite.also you consider the think of the fed like a xxx.it doesn't really like things too hot too cold.they want everthing to be just right.as you probably wondering,ok,well,you know,how did the fed works its magic.what is its secret weapon.the answer is intrest rates.so the waves of that get interest rates just that right level about 3 spark,is to buying and selling US treasuries and other bonds. so when it wants to cool the market down,it sells US treasuries,starts with the cash,and that reduces the money supply.so that makes it harder to borrow money.and that basically slows down economic growth.when it really wants to heat the market up,it essentially starts buying US treasuries and other bonds.that floods market with cash,and fuels economic growth.so xxx perfect system, but it works at least for now.xxxxx don't fight the fed.

in hongkong, the city's government has called off talks with protesters.and it is not clear what'll happen next in the standoff between these two sides.some background, thousands turned out recent weeks,most of them are students.they blocked access to hongkong's business district. they demanded a greater say in how hongkong's leader is chosen without intervention from mainland china.hongkong'a current leader was approved by china.he says the outcoming elections will be fair, and his government has called the protests illegal.but it also scheduled talks with protesters,talks the government called off when protest leaders asked supporters to keep the occupations going.