Next Week Macro Outlook: Powell's "Battle" Against Market Rate Cut Expectations, Fed Releases Monetary Policy Meeting Minutes

BlockBeats News Update, August 16th. Over the past week, U.S. economic data has been mixed, leading to continued market volatility in expectations of a Fed rate cut. Data released on Friday showed that driven by strong auto sales and large online promotions, U.S. retail sales saw broad-based growth. However, a later report revealed an unexpected decline in consumer confidence, the first since April, along with an uptick in inflation expectations.

Previously, the U.S. July CPI and PPI reports seemed to send conflicting signals regarding whether the economy is weathering the impact of Trump's comprehensive import tariffs, but both indicated persistent service inflation, with PPI hitting a three-year high on a monthly basis. Meanwhile, there is clear internal Fed disagreement regarding a September rate cut.

On Wednesday at 11:00 PM, Fed Governor Waller delivered a speech at a blockchain seminar in Wyoming;

On Thursday at 2:00 AM, the Fed released the minutes of its monetary policy meeting;

On Thursday at 3:00 AM, 2027 FOMC voter and Atlanta Fed President Bostic spoke on the economic outlook;

On Thursday at 8:30 PM, U.S. initial jobless claims for the week ending August 16th and the August Philly Fed Manufacturing Index were released;

On Thursday at 9:45 PM, the preliminary reading of the August S&P Global Manufacturing and Services PMI in the U.S. was released;

On Friday at 10:00 PM, Fed Chair Powell delivered a speech at the Jackson Hole Global Central Bankers' Conference.