Federal Reserve Chairman Jerome Powell said the central bank will resume purchases of Treasury securities to avoid a repeat of the recent turmoil in money markets while leaving his options open on interest rates weeks ahead of policymakers’ next meeting. But it’s not QE, he said. “Neither the recent technical issues nor the purchases of Treasury bills we are contemplating to resolve them should materially affect the stance of monetary policy,” he said. (Bloomberg)

“We strongly urge the U.S. to immediately stop making irresponsible remarks on the issue of Xinjiang” and to “stop interfering” in “China’s internal affairs, and remove relevant Chinese entities from the list of entities as soon as possible,” a spokesperson from the Ministry of Commerce said. The U.S. blacklisted a slew of Chinese companies due to alleged human rights violations against Muslim minorities in China’s far western region of Xinjiang. (CNBC)

Stocks in Asia looked set to decline following a drop in U.S. equities and gains for sovereign bonds Tuesday amid concern that U.S.-China tensions are growing just days before high-level trade talks are due to take place. The S&P 500 Index sank 1.6% after the news of U.S. travel bans on Chinese officials linked to the mass detention of Muslims in Xinjiang province. (Bloomberg)