This week in macro, investors can expect the Federal Open Market Committee's meeting minutes, alongside a deluge of FOMC and Fed speeches. Monday Morning, Fed Vice Chair Jefferson said the economy is growing at a solid pace, and its too early to tell if the current disinflation slowdown will last longer.
Cleveland Fed President Loretta Mester on Monday suggested she was thinking about backing away from her prior expectation that the U.S. central bank will cut interest rates three times this year.
As recently as early April, Mester had three rate cuts penciled in for 2024. Now, she has her doubts.
Last week, Wednesday CPI numbers for April came in right at expectations. Prices advanced 3.4%, and core prices advanced 3.6% in April compared to a year ago, and 0.3% month over month.
Mooers, what are you watching today? Comment below and I may feature your comment tomorrow!
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