Next Week Macro Outlook: CPI and PPI Data Incoming, 'Crypto-Friendly' Fed Governor to Take Office
BlockBeats News, August 9th, the key macroeconomic data and events to be announced next week are as follows:
Tuesday:
US July CPI data;
2027 FOMC voter and Richmond Fed President Barkin speech.
Thursday:
Chicago Fed President Evans speech on monetary policy;
Atlanta Fed President Bostic speech on US economic outlook;
US initial jobless claims for the week ending August 9th, August PPI data.
Friday:
US July retail sales m/m, July import price index m/m;
US August 1-year inflation rate expectations preliminary, University of Michigan Consumer Sentiment Index preliminary.
Additionally, Trump has announced the nomination of "pro-crypto" official Stephen Miran as a Federal Reserve Board Member, with a term until January 31, 2026. According to public information, during his tenure as Chair of the White House Economic Advisory Committee, he explicitly supported the Trump administration's crypto-friendly policies. He believes that cryptocurrency has the potential to stimulate economic growth, drive financial innovation, and combat inflation, especially in the context of the Trump economic agenda. However, this nomination still needs to be approved by the Senate.
Next week, traders' focus will be on the July CPI and PPI data to be released on Tuesday and Thursday, as well as the retail sales data and the preliminary University of Michigan Consumer Sentiment survey for August to be released on Friday. Even before the impact of reciprocal tariffs takes effect, higher-than-expected inflation data may prompt traders to reduce bets on rate cuts.
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