FeaturesMacroeconomic Outlook for Next Week: Non-farm payrolls "hidden," Fed officials to speak in quick succession
According to CoinWorld, the market was almost certain that the Federal Reserve would cut interest rates again in December, but Powell's comments have prompted a rethink. This means that speeches by Fed officials starting next week could be crucial, as Fed governors and regional Fed presidents resume public appearances to lay the groundwork for the key December meeting. Normally, next week would be the week for non-farm payroll data releases. However, with the US government shutdown entering its second month, the usual schedule will be disrupted. The chances of the Bureau of Labor Statistics (BLS) releasing non-farm payroll data on Friday are quite slim. Fortunately, a large amount of US private sector data will be released next week. Specifically, the often-overlooked JOLTS job openings and Challenger layoffs data will receive due attention. Here are the key events the market will be focusing on this week (all times are Beijing time): Tuesday 01:00, 2027 FOMC voting member and San Francisco Fed President Daly speaks; Friday 00:00, FOMC permanent voting member and New York Fed President Williams speaks; Friday 01:00, 2026 FOMC voting member and Cleveland Fed President Hamak speaks at the Economic Club of New York; Friday 05:30, 2026 FOMC voting member and Philadelphia Fed President Paulson speaks; Friday 06:30, 2025 FOMC voting member and St. Louis Fed President Musaleem participates in a fireside chat on monetary policy; Friday 16:00, FOMC permanent voting member and New York Fed President Williams speaks at the ECB Monetary Market Conference.