23 July 2023 Economics & Growth | Monetary Policy & Inflation | Rates | US

Week Ahead: What We Could Learn From the FOMC

– Recorded on the 21st July, 2023 –

Welcome to the Week Ahead! In this episode, Henry and Dominique discuss the Fed’s preference for a ‘Goldilocks’ macro backdrop, what is the main driver of the current inflation decline, why the market is pricing so many 2024 Fed rate cuts, and much more!

Timestamps:

00:22 – A recap of last week’s main events (retail sales).
01:06 – Fed’s preference for a ‘Goldilocks’ macro backdrop as a sign of a ‘soft’ landing and the Fed’s current desire to hike at every other Fed meeting.
02:38 – Outlining the Fed’s current ‘Reaction Function.’
05:52 – Decreasing energy prices as the main driver of the current inflation decline.
07:28 – PCE expectations.
08:14 – Why the market is pricing so many 2024 Fed rate cuts.
09:50 – Next week’s important data – Employment Cost Index (ECI), GDP, June personal income and spending data, and residential real estate data.
12:19 – United Parcel Service (UPS) union-manager negotiations and a potential UPS strike.
15:07 – This week’s notable Macro Hive articles.

The Week Ahead is now available as a podcast. Click here to listen.

(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)

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