Recent US economic data has shown a mixed picture, leading to significant fluctuations in the market's expectations for a Fed rate cut. The consumer price index (CPI) and the producer price index (PPI) reports for July seem to convey different economic signals, but both indicate that inflation in the services sector remains stubborn, with the month-on-month increase in PPI reaching a three-year high.

These complex economic indicators have led to a noticeable divide within the Fed regarding whether interest rates should be lowered in September. Against this backdrop, there are several important events in the coming week that will be worth closely monitoring:

First, Fed Governor Waller will speak at a blockchain seminar in Wyoming on Wednesday. Secondly, the Fed will release the minutes of its monetary policy meeting on Thursday, which may provide the market with more insights into the thinking of decision-makers. On the same day, 2027 Federal Open Market Committee (FOMC) voting member and Atlanta Fed President Bostic will also give a speech on the economic outlook.

In addition, several important economic data will be released on Thursday, including the number of initial jobless claims in the U.S. for the week ending August 16, the Philadelphia Fed Manufacturing Index for August, and the preliminary values of the S&P Global Manufacturing and Services PMI for August (. This data will provide new evidence for assessing the health of the U.S. economy.

The most noteworthy event is that Fed Chairman Powell will deliver a speech on Friday at the highly anticipated Jackson Hole Global Central Bank Annual Meeting. Powell's speech may provide the market with important clues about the future direction of Fed policy, especially in the context of mixed economic data and fluctuating expectations for interest rate cuts.

As these important events approach, market participants will closely monitor any new information that may influence the Fed's decisions in order to adjust their expectations for future interest rate trends.