Crypto market plunged today:
The May retail sales data will be released tonight.
Several Fed officials will give speeches this week, and the market is paying attention to Fed officials' views on the interest rate outlook this year. The market expects the Fed to have a 76% chance of cutting interest rates in September and a 50% chance of cutting interest rates by 50 basis points this year.
In fact, what can those people at the Fed say that they can trust?
☆At 20:30, the Fed will release the monthly rate of retail sales in May, which is known as the "horror data". The market expects it to rebound from 0% in April to 0.2%;
☆At 21:15, the Fed will release the monthly rate of industrial output in May;
☆At 22:00, the Fed will release the monthly rate of commercial inventory in April;
☆At 22:00, Barkin, the 2024 FOMC voting member and chairman of the Richmond Fed, will deliver a speech;
☆At 23:40, Collins, the 2025 FOMC voting member and chairman of the Boston Fed, will deliver a speech;
☆At 1:00 the next day, Logan, the 2026 FOMC voting member and chairman of the Dallas Fed, will participate in a Q&A session; at the same time, Kugler, a member of the Federal Reserve Board of the Federal Reserve, will also deliver a speech on the economic outlook and monetary policy;
☆At 4:30 the next day, the United States will release the API crude oil inventory for the week ending June 14.
There is news about interest rate cuts again. Philadelphia Fed’s Hillary Clinton’s statement is even more ridiculous: it is appropriate to cut interest rates once before the end of the year, and it is also possible not to cut interest rates or to cut interest rates twice. It seems to be "childish talk".
Regarding the interest rate cut, I feel that the officials of the Philadelphia Fed have been "passing the buck" and "playing Tai Chi".