Tonight, the whole world is all ears, waiting for Worsh to speak
At 9:45 p.m. tonight, a raft of U.S. economic data is set to be released—manufacturing, consumer confidence, inflation expectations… But these are only appetizers. The real main course is one: Federal Reserve Chair Worsh’s first remarks at the Jackson Hole conference.
First, let’s look at the data front. The manufacturing PMI forecast is decent, but everyday people’s lives are really tight—consumer confidence is down to 51, nearing the worst on record, and inflation expectations have also been raised. Price pressure simply hasn’t eased.
What draws the most attention is the jobs revision. Earlier, it was revised downward by 862,000, which spooked the market. This time, the expectation is a rebound of 185,000. If it does turn positive, at the very least it would signal that employment hasn’t collapsed, and the Federal Reserve can finally take a breather.
But none of these figures carries as much weight as a single sentence from Worsh. This will be his first time speaking at a global conference since taking office. The market is guessing: will he keep “trading on the data,” or will he send out new signals?
If inflation can’t be brought under control and employment is swinging up and down, neither side is easy to manage. How Worsh finds the balance will basically determine the market’s direction over the next few months.
In short, tonight is bound to be anything but calm. Whether the data looks good or not is one thing. What Worsh says matters far more—and is what truly moves the nerves.
#韩股KOSPI因AI热潮降温下跌 #英伟达开盘140分钟成交335亿美元
At 9:45 p.m. tonight, a raft of U.S. economic data is set to be released—manufacturing, consumer confidence, inflation expectations… But these are only appetizers. The real main course is one: Federal Reserve Chair Worsh’s first remarks at the Jackson Hole conference.
First, let’s look at the data front. The manufacturing PMI forecast is decent, but everyday people’s lives are really tight—consumer confidence is down to 51, nearing the worst on record, and inflation expectations have also been raised. Price pressure simply hasn’t eased.
What draws the most attention is the jobs revision. Earlier, it was revised downward by 862,000, which spooked the market. This time, the expectation is a rebound of 185,000. If it does turn positive, at the very least it would signal that employment hasn’t collapsed, and the Federal Reserve can finally take a breather.
But none of these figures carries as much weight as a single sentence from Worsh. This will be his first time speaking at a global conference since taking office. The market is guessing: will he keep “trading on the data,” or will he send out new signals?
If inflation can’t be brought under control and employment is swinging up and down, neither side is easy to manage. How Worsh finds the balance will basically determine the market’s direction over the next few months.
In short, tonight is bound to be anything but calm. Whether the data looks good or not is one thing. What Worsh says matters far more—and is what truly moves the nerves.
#韩股KOSPI因AI热潮降温下跌 #英伟达开盘140分钟成交335亿美元
