$BTC $ETH Is the interest rate cut in December still on?
After the non-farm payrolls went 'missing',
this group of people speaking will determine the market's fate!
Next week’s financial market is going to be exciting! Everyone thought the Federal Reserve would definitely cut rates again in December, but Powell's statement completely stunned the market, prompting a reevaluation of the situation. At this critical moment, the most crucial non-farm employment data went 'invisible' — the U.S. government was shut down for two months, so the Bureau of Labor Statistics couldn't publish the data on time.
But don’t panic, there are other 'clues' without the non-farm data. The JOLTS job openings and Challenger layoffs data, which usually don’t attract much attention, will be key to assessing the economic situation next week. More importantly, Federal Reserve officials are going to collectively 'speak', and their words directly relate to the direction of the rate cut in December; every word is valuable.
Here are the key events in Beijing time, make a note:
• Tuesday 01:00, San Francisco Fed President Daly, who has voting rights in 2027, will speak;
• Friday 00:00, New York Fed President Williams, who holds permanent voting rights, will speak;
• Friday 01:00, Cleveland Fed President Harmack, who has voting rights in 2026, will speak at the New York Economic Club (note that she had previously clearly opposed rate cuts);
• Friday 05:30, Philadelphia Fed President Paulson, who has voting rights in 2026, will speak;
• Friday 06:30, St. Louis Fed President Musalem, who has voting rights in 2025, will talk about monetary policy;
• Friday 16:00, New York Fed President Williams will also speak again at the European Central Bank meeting.
Let’s keep an eye on this!
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