This Week's Macroeconomic Outlook: Market Focused on Federal Reserve Chair Nominee, GDP Data to Test Rate Cut "Success"

BlockBeats News, December 21st, this week welcomes the Christmas market, with the U.S. stock market closing early on Wednesday and closed all day on Thursday. The market is focused on whether Trump will announce the nominee for the Federal Reserve Chair during the Christmas period. Currently, Kevin Hassett, Director of the U.S. National Economic Council, has once again taken a commanding lead as the next Federal Reserve Chair, with a probability of approximately 54%. Former Fed Governor Kevin Warsh has a nomination probability of about 21%, and Fed Governor Christopher Waller has a nomination probability of about 14%. The key macro events and data for this week are as follows:

Tuesday:

U.S. Preliminary Third Quarter Real GDP Annualized Rate;

U.S. Preliminary Third Quarter Real Personal Consumption Expenditures Rate;

U.S. Preliminary Third Quarter Core PCE Price Index Annualized Rate;

Wednesday:

Bank of Canada releases Monetary Policy Meeting Minutes;

U.S. Initial Jobless Claims up to December 20th;

Thursday:

Bank of Japan Governor Haruhiko Kuroda delivers a speech at Japan Business Federation;

Friday:

Japan Unemployment Rate for November.

Market Closure Reminder: Half-day market on Wednesday for Hong Kong Exchange, NYSE closes early at 02:00 on the 25th Beijing time; U.S. stock market closed on Thursday for Christmas.