According to TechFlow, on November 30, according to Jinshi Data, Federal Reserve Chairman Powell will be interviewed at the New York Times DealBook/Summit conference on December 5, and the market is closely watching his statement on the pace of interest rate cuts.
Earlier, the minutes of the Federal Reserve's November monetary policy meeting showed that policymakers generally supported a cautious approach to future rate cuts. Federal funds futures show that the market expects interest rates to fall from the current 4.5% to 4.75% to 3.8% by the end of 2024, an increase of more than 100 basis points from the September forecast.
U.S. stocks performed strongly this week, with the S&P index recording its biggest monthly gain since November 2023. LSEG Lipper data showed that global equity funds received inflows for the ninth consecutive week, with $12.19 billion this week, up 32% from the previous month. Sameer Samana, senior strategist at Wells Fargo Investment Institute, said the Federal Reserve has begun to question how much easing is needed in the economy and labor market.
The market will focus on the upcoming non-farm payroll data, as strong employment figures could further diminish expectations for a Federal Reserve rate cut. In addition, the October job openings data and the November ADP employment report will also provide important references for assessing the state of the U.S. labor market.