Macroeconomic Outlook for Next Week: July Core PCE is Coming, "Don't Get Too Excited About Rate Cuts"

According to BlockBeats news, on August 23, during most of this month, Wall Street traders have rushed into the stock and bond markets, betting that the Fed is finally ready to start cutting interest rates again. The only thing they were waiting for was the green light from Fed Chairman Powell to sustain this round of rise. They got their wish on Friday when Powell took a dovish stance in a highly anticipated speech, triggering the largest cross-market rally since April. Powell hinted on Friday that the Fed is ready to change its policy direction, reminiscent of the situation at the Jackson Hole meeting a year ago. In his Jackson Hole speech, Powell opened the door for a rate cut in September, clearly signaling that the Fed would cut rates by 25 basis points at the September meeting. On Tuesday at 03:15, 2026 FOMC voting member and Dallas Fed President Logan will speak and participate in a panel discussion at the 100th anniversary meeting of the Central Bank of Mexico; on Tuesday at 07:15, FOMC permanent voting member and New York Fed President Williams will deliver a keynote speech at the 100th anniversary meeting of the Central Bank of Mexico; on Thursday at 00:45, 2027 FOMC voting member and Richmond Fed President Barkin will speak; on Thursday at 20:30, the revised annualized quarterly rate of actual GDP for the second quarter in the U.S.; on Friday at 20:30, the year-on-year core PCE price index for July, the month-on-month personal spending rate for July, and the month-on-month core PCE price index for July; on Friday at 21:45, the Chicago PMI for August; on Friday at 06:00, Fed Governor Waller will speak on monetary policy; on Friday at 22:00, the final value of the University of Michigan consumer confidence index for August and the final value of the one-year inflation expectations for August.