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Stock markets have shown signs of recovery, but the same cannot be said for crypto markets, which are facing heavy resistance. Volatility could tick up again as all eyes will be on the Federal Open Market Committee (FOMC) meeting and minutes this week in addition to economic data reports. Economic Events Aug. 19 to 23 The first economic event of the week is Wednesday’s FOMC meeting, during which the minutes from July’s meeting and policy decisions will be discussed. This offers an in-depth account of the Fed policy outlook and includes details on committee members’ positions on monetary policy. There will also be insight into their opinions about the economic situation and trends going forward. August’s S&P Global Manufacturing and Services PMI reports will be released on Thursday. These reports provide business conditions in the US manufacturing and services sectors, which are representative of overall economic conditions. Policymakers use these reports as forward-looking indicators reflecting trends in the overall economy. Key Events This Week: 1. Fed Meeting Minutes – Wednesday 2. S&P Global Services PMI data – Thursday 3. July Existing Home Sales data – Thursday 4. July New Home Sales data – Friday 5. Fed Chair Powell Speaks – Friday 6. Total of 4 Fed speaker events this week The S&P 500… — The Kobeissi Letter (@KobeissiLetter) August 18, 2024 There will be another Fed speech on Friday. Chair Jerome Powell will take the stage at the Jackson Hole Economic Policy Symposium, an annual global forum for central bankers, policy experts, and academics in Wyoming. His speech is expected to set the stage for an expected rate reduction in September and how much rates will drop in the following months. Recent economic data reports have shown that inflation continues to fall toward the Fed’s 2% target, consumer spending is holding…

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Filed under: News - @ August 19, 2024 5:12 am