Macro Outlook for Next Week: CPI and PPI Data Incoming, Pro-Crypto Fed Governor May Take Office

BlockBeats News, August 9 — The key macroeconomic data and events scheduled for release next week are as follows:

Tuesday:

US July CPI data;

2027 FOMC voting member and Richmond Fed President Thomas Barkin to deliver a speech.

Thursday:

Chicago Fed President Austan Goolsbee to speak on monetary policy;

Atlanta Fed President Raphael Bostic to discuss the US economic outlook;

US initial jobless claims for the week ending August 9 and August PPI data.

Friday:

US July retail sales month-on-month, July import price index month-on-month;

US preliminary one-year inflation expectations for August and preliminary University of Michigan Consumer Sentiment Index for August.

In addition, former President Trump has announced the nomination of “pro-crypto” official Stephen Miran as a Federal Reserve Board Governor, with a term ending January 31, 2026. Public information shows that during his tenure as Chair of the White House Council of Economic Advisers, he explicitly supported the Trump administration’s crypto-friendly policies. He believes cryptocurrencies have the potential to stimulate economic growth, drive financial innovation, and combat inflation, especially in the context of Trump’s economic agenda. However, the nomination still requires Senate approval.

Next week, traders will be closely watching the July CPI and PPI data releases on Tuesday and Thursday, as well as Friday’s retail sales data and the preliminary August University of Michigan Consumer Sentiment report. Even before the effects of reciprocal tariffs come into play, higher-than-expected inflation data could prompt traders to scale back bets on rate cuts.