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Macroeconomic Outlook This Week: Waller Takes Over the Fed, New Developments in US-Iran Relations

On May 11, this week, the lack of consensus between the US and Iran has introduced new uncertainties in the international situation, causing a slight increase in crude oil prices. Additionally, this week's macroeconomic events will focus on the US April CPI data, as detailed below: On Tuesday at 15:15, FOMC permanent voting member and New York Fed President Williams will participate in a panel discussion on monetary policy; on Tuesday at 20:15, the weekly change in ADP employment numbers for the week ending April 25 will be released; on Tuesday at 20:30, the US April CPI data will be announced; on Wednesday at 04:30, API crude oil inventories for the week ending May 8 will be reported; on Wednesday at 20:30, the US April PPI year-on-year and month-on-month data will be released; on Friday at 05:30, Fed Governor Barr will give a speech; and on Friday at 21:15, the US April industrial production month-on-month data will be published. This week, the Federal Reserve will undergo significant personnel changes, with incoming Chairman Kevin Waller expected to be confirmed by the Senate on Monday and officially taking over from Powell on May 15. In the US stock market, futures for the three major indices showed a slight decline on Monday. Although the first quarter earnings season is nearing its end, corporate reports will still be a key driver of stock prices in the coming days.

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