Compiled by: GaryMa Wu Talks Blockchain
Summary
Wu said this week's macroeconomic indicators and analysis: Last week, the US June CPI was lower than expected. Powell said that the central bank is paying more attention to when to cut interest rates, and the market is optimistic about a rate cut in September. This week, the focus will be on the ECB's interest rate decision, Powell and other senior Fed officials' collective speeches, and the Fed's Beige Book on economic conditions.
Last week review
●In his speech to the Senate Banking Committee on Tuesday morning, Federal Reserve Chairman Powell said that rising inflation is not the only risk we face. The economy has made significant progress in reducing inflation and the job market looks as strong as before the epidemic, but there is no Overheating; regarding interest rate cuts, we will make decisions on a meeting-by-meeting basis; now that inflation has returned to decline and the labor market is showing signs of cooling, the central bank is paying more attention to when to cut interest rates; recent inflation data shows further small progress, more good data This will enhance our confidence that inflation will continue to move towards 2%. (WSJ)
●Fed Chairman Powell attended the House Financial Services Committee meeting and said that he was not ready to declare victory over inflation, and the end point of quantitative tightening was still uncertain. He revealed that the Fed would not wait until inflation fully recovered to 2% before cutting interest rates, nor would it do so because of the election results.
●China’s CPI annual rate in June was announced at 0.2%, the forecast was 0.40%, and the previous value was 0.30%.
●The Reserve Bank of New Zealand kept the interest rate unchanged at 5.5%, in line with market expectations and marking the eighth consecutive time that the interest rate was kept unchanged.
●The year-on-year growth rate of US CPI in June fell further to 3% from 3.3% in the previous month, lower than the expected 3.1%.
●The annual rate of PPI in the United States in June was 2.6%, in line with expectations of 2.30% and the previous value of 2.20%.
●The initial forecast for the US one-year inflation rate in July was 2.9%, the expected value was 2.90%, and the previous value was 3.00%.
●The preliminary reading of the University of Michigan Consumer Confidence Index in July was 66, an eight-month low, lower than the expected 68.5 and the previous reading in June was 68.2.
This week's key events & indicators
July 16
●Federal Reserve Chairman Powell holds a dialogue with Carlyle Group Co-Executive Chairman David Rubenstein (00:30)
●2024 FOMC voting member and San Francisco Fed President Mary Daly attended a meeting themed "Bulls, Bears, and Bankers" (04:35)
July 17
●Federal Reserve Board Governor Kugler delivered a speech (02:45)
●2024 FOMC voting member and Richmond Fed President Barkin delivered a speech (21:00)
●Fed Board Governor Waller speaks on economic outlook (21:35)
July 18
●The Federal Reserve releases the Beige Book on economic conditions (02:00)
●ECB announces interest rate decision (20:15)
July 19
●2024 FOMC voting member and San Francisco Fed President Mary Daly participated in a fireside chat (06:05)
●Federal Reserve Board Governor Bowman delivered a speech (07:30)
●FOMC permanent voting member and New York Fed President Williams delivered a speech on monetary policy (22:40)
See original
Wu said this week's macroeconomic indicators and analysis: speeches by Fed officials, ECB interest rate decisions, and the Fed's Beige Book on economic conditions
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