This Week's Macro Outlook: CPI and PPI Data Incoming, "Crypto-Friendly" Fed Governor to Take Office

BlockBeats News, August 9th, the important macroeconomic data and events to be announced this week are as follows:

Tuesday:

US July CPI data;

2027 FOMC Voter, Richmond Fed President Barkin speech.

Thursday:

Chicago Fed President Evans speech on monetary policy;

Atlanta Fed President Bostic speech on US economic outlook;

US initial jobless claims up to August 9th, July PPI data.

Friday:

US July retail sales monthly rate, July import price index monthly rate;

US August one-year inflation rate expectation initial value, University of Michigan Consumer Confidence Index preliminary value.

In addition, Trump has nominated "pro-crypto" official Stephen Miran as a Federal Reserve Board member, with a term until January 31, 2026. According to public information, during his tenure as Chairman of the White House Economic Advisers Council, he explicitly supported the Trump administration's crypto-friendly policy. He believes that cryptocurrency has the potential to stimulate economic growth, drive financial innovation, and combat inflation, especially in the context of the Trump economic plan. However, this nomination still requires Senate approval.

This week, traders' focus will be on the July CPI and PPI data released on Tuesday and Thursday, as well as the retail sales data released on Friday and the preliminary University of Michigan Consumer Confidence survey for August. Even before the impact of reciprocal tariffs takes effect, higher-than-expected inflation data may prompt traders to reduce their bets on rate cuts.