Next Week Macro Outlook: July Core PCE on the Horizon, "Don't Get Too Excited About Rate Cuts"
BlockBeats News, August 23. For most of this month, Wall Street traders flocked to the stock and bond markets, betting that the Fed was finally ready to cut rates again. The only thing they were waiting for was Fed Chair Powell's green light to sustain this rally. Their wish was granted on Friday as Powell took a dovish stance in a highly anticipated speech, triggering the largest cross-market rally since April.
On Friday, Powell hinted at the Fed's readiness to change its policy direction, reminiscent of the situation at the Jackson Hole conference a year ago. In his Jackson Hole speech, Powell opened the door to a rate cut in September, unequivocally signaling that the Fed will cut rates by 25 basis points at the September meeting.
On Tuesday at 03:15, 2026 FOMC Voter and Dallas Fed President Logan spoke at the 100th Anniversary of the Bank of Mexico and participated in a panel discussion;
On Tuesday at 07:15, FOMC Permanent Voter and NY Fed President Williams delivered a keynote speech at the 100th Anniversary of the Bank of Mexico;
On Thursday at 00:45, 2027 FOMC Voter and Richmond Fed President Barkin gave a speech;
On Thursday at 20:30, US Q2 Real GDP Annualized QoQ Revised;
On Friday at 20:30, US July Core PCE Price Index YoY, US July Personal Spending MoM, US July Core PCE Price Index MoM;
On Friday at 21:45, US August Chicago PMI;
On Friday at 06:00, Fed Governor Waller spoke on monetary policy;
On Friday at 22:00, US August University of Michigan Consumer Sentiment Final, US August 1-Year Inflation Rate Expectations Final.
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