Macroeconomic outlook for next week: The Federal Reserve’s “verbal storm” is coming, is Powell’s chair unstable?

PA一线
PA一线04/19/2025, 03:35 PM

PANews reported on April 19 that the Dow and Nasdaq both fell more than 2% this week, and the S&P 500 fell 1.5% this week, due to disappointment with Fed Chairman Powell's response to the central bank's support for the market. Investors mostly took a wait-and-see attitude towards tariff negotiations before making long-term bets. Traders are paying more attention to the progress of discussions in specific countries, seeking clues on how tariffs will evolve. Several Fed officials will give intensive speeches next week. The following are the key points that the market will focus on in the new week:

At 20:30 on Monday, Goolsbee, 2025 FOMC voting member and president of the Chicago Fed, was interviewed by CNBC;

At 21:00 on Tuesday, Federal Reserve Vice Chairman Jefferson will speak at the Economic Liquidity Summit;

At 22:00 on Tuesday, European Central Bank President Lagarde was interviewed by CNBC;

At 21:30 on Tuesday, Harker, 2026 FOMC voting member and President of the Federal Reserve Bank of Philadelphia, will speak at the Economic Liquidity Summit;

At 02:00 on Wednesday, Kashkari, 2026 FOMC voting member and President of the Minneapolis Fed, delivered a speech;

At 21:00 on Wednesday, Goolsbee, 2025 FOMC voting member and president of the Chicago Fed, delivered an opening speech at an event;

At 21:30 on Wednesday, 2025 FOMC voting member, St. Louis Fed President Moussallem and Fed Governor Waller delivered opening remarks at an event;

At 02:00 on Thursday, the Federal Reserve will release the Beige Book on economic conditions;

At 20:30 on Thursday, the number of initial jobless claims in the United States for the week ending April 19;

At 05:00 on Friday, Kashkari, 2026 FOMC voting member and President of the Minneapolis Fed, will deliver a speech;

At 22:00 on Friday, the final value of the University of Michigan Consumer Confidence Index for April and the final value of the US one-year inflation rate forecast for April will be released.

Hassett, director of the National Economic Council, said Trump is studying whether "removing Fed Chairman Powell" is an option. Hassett hinted that the Fed has political tendencies under Powell's leadership, and both rate hikes and rate cuts are favorable to the Democratic Party. The Trump administration's efforts to remove Powell may further disrupt the market. Krishna Guha, vice chairman of Wall Street consulting firm Evercore ISI, warned: The sudden and clear threat to the independence of the Federal Reserve will intensify market pressure and move it in a more stagflationary direction, greatly increasing tail risks.

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Author: PA一线

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