Compiled by: GaryMa Wu Talks about Blockchain

Summary
Wu said this week's macroeconomic indicators and analysis: Last week, the speeches and meeting minutes of the Fed officials were generally hawkish, emphasizing inflation control and no rush to cut interest rates. This week, we will focus on the Fed's favorite inflation indicator, the US core PCE price index in April, and the Beige Book on economic conditions released by the Fed.

Last week review
●Minutes of the Federal Reserve meeting: It may take longer to cut interest rates, and many people are willing to raise interest rates once inflation risks rekindle.
●Speech by Federal Reserve officials:
○ Mester: In the latest forecast, the long-term neutral interest rate estimate was raised, and the current policy level may not be "as tight as expected";
○ Collins: It will take longer to see the progress needed to adjust interest rates;
○ Waller: If the data supports it, we may consider cutting interest rates at the end of the year. There is no need to raise interest rates at the moment. The possibility of inflation re-accelerating can be ruled out;
○ Barr: Reiterated the need to maintain high interest rates for a longer period of time;
○ Bostic: To ensure that inflation does not rebound, interest rate cuts are not expected before Q4.
●The minutes of the Reserve Bank of Australia’s monetary policy meeting in May showed that future interest rate changes are difficult to determine and restoring inflation to target levels remains the top priority.
●The Reserve Bank of New Zealand announced its interest rate decision and monetary policy statement. The market predicts that the Reserve Bank of New Zealand will keep the interest rate unchanged. The previous value was 5.50%, and the forecast value was 5.50%.
●The number of initial jobless claims in the United States for the week ending May 18 was 215,000, the lowest since the week of April 27, with expectations of 220,000 and a previous value of 222,000.
●The final value of the University of Michigan Consumer Confidence Index in May was 69.1, expected to be 67.5, and the previous value was 67.4.


This week's key events & indicators
May 30
●The Federal Reserve releases the Beige Book on economic conditions (02:00)
●2024 FOMC voting member and Atlanta Fed President Bostic speaks on economic outlook (07:00)
●Revised annualized quarterly rate of the U.S. PCE price index in the first quarter (20:30)
●Initial jobless claims in the U.S. for the week ending May 25 (10,000 people) (20:30)

May 31
●China’s official manufacturing & non-manufacturing PMI in May (09:30)
●U.S. core PCE price index annual rate in April (20:30)
●2026 FOMC voting member and Dallas Fed President Logan delivered a speech (05:00)
●2024 FOMC voting member and Atlanta Fed President Bostic delivered a speech (06:15)