Next week's macro outlook: Federal Reserve officials speak intensively, with U.S. employment and GDP data released on Thursday

ChainCatcher news, according to Jinshi reports, next week Federal Reserve officials will speak intensively, and the market may further assess the pace of Fed rate cuts based on this. The specific schedule is as follows:

On Monday at 21:45, FOMC permanent voting member and New York Fed President Williams will speak on monetary policy and economic outlook; at 22:00, 2025 FOMC voting member and St. Louis Fed President Bullard will speak on the U.S. economic outlook and monetary policy;

On Tuesday at 00:00, 2026 FOMC voting member and Cleveland Fed President Mester will speak on the U.S. economy; 2027 FOMC voting member and Richmond Fed President Barkin will speak on the economic situation; at 22:00, 2027 FOMC voting member and Atlanta Fed President Bostic will speak on the economic outlook;

On Thursday at 04:10, 2027 FOMC voting member and San Francisco Fed President Daly will speak; at 20:20, 2025 FOMC voting member and Chicago Fed President Goolsbee will speak; at 21:00, FOMC permanent voting member and New York Fed President Williams will deliver a welcome speech at the fourth annual meeting on the international role of the dollar;

On Friday at 01:00, Fed Governor Barr will speak on bank stress tests; at 03:30, 2027 FOMC voting member and San Francisco Fed President Daly will speak; at 21:00, 2027 FOMC voting member and Richmond Fed President Barkin will speak; at 22:00, Fed Governor Bowman will speak.

In terms of macro data, on Thursday at 20:30, the U.S. initial jobless claims for the week ending September 20, the final annualized quarterly rate of real GDP for Q2, the final quarterly rate of real personal consumption expenditures for Q2, the final annualized quarterly rate of core PCE price index for Q2, and the monthly rate of durable goods orders for August will be released. On Friday at 22:00, the final value of the University of Michigan consumer confidence index for September and the final value of the one-year inflation expectation for September will be announced.

Market views suggest that after the Fed's decision, the focus has returned to inflation data, and next week investors' attention will fully shift to the inflation indicator favored by the Fed—the Personal Consumption Expenditures (PCE) price index. The inflation data released next week may confirm whether the Fed's decision to cut rates this fall is wise. Economists generally predict that the August PCE will show that inflation levels are rising again.