Mixed signals from US economic data raise concerns over Fed policy outlook

On August 16, 【Block Rhythm】, the mixed U.S. economic data over the past week has led to persistent fluctuations in the market's expectations for a Fed rate cut. Data released on Friday showed that retail sales in the U.S. saw broad growth, driven by auto sales and large online promotional events. However, a later report indicated that consumer confidence unexpectedly declined for the first time since April, and inflation expectations have risen.

Previously, the U.S. July CPI and PPI reports seemed to send mixed signals about whether the economy is withstanding the impact of Trump's comprehensive import tariffs, but both indicated that service inflation remains stubborn, with PPI rising to a three-year high month-on-month. Meanwhile, there are significant divisions within the Fed regarding a rate cut in September.

Wednesday 23:00, Fed Governor Waller speaks at the blockchain seminar in Wyoming;

Thursday 2:00, the Fed released the monetary policy meeting minutes;

On Thursday at 3:00, 2027 FOMC voting member and Atlanta Fed President Bostic will speak on the economic outlook.

Thursday 20:30, U.S. initial jobless claims for the week ending August 16, U.S. August Philadelphia Fed manufacturing index;

Thursday 21:45, US August S&P Global Manufacturing and Services PMI Preliminary;

Friday 22:00, Fed Chairman Powell delivers a speech at the Jackson Hole Global Central Bank Annual Meeting.