Next week's macro outlook: CPI and PPI data coming, "pro-encryption" The Federal Reserve Board of Governors may take office.

On August 9, the important macro data and events to be announced next week are as follows: Tuesday: US July CPI data; 2027 FOMC voting member, Richmond Fed President Barkin speaks. Thursday: Chicago Fed President Goolsbee speaks on monetary policy; Atlanta Fed President Bostic speaks on the US economic outlook; US initial jobless claims for the week ending August 9, August PPI data. Friday: US July retail sales month-on-month, July import price index month-on-month; US August one-year inflation expectations preliminary value, Michigan University consumer confidence index preliminary value. In addition, Trump has announced the nomination of "crypto-friendly" official Stephen Miran to serve on the Federal Reserve Board of Governors, with a term until January 31, 2026. According to public information, during his tenure as Chairman of the White House Council of Economic Advisers, he explicitly supported the Trump administration's friendly policies towards crypto assets. He believes that crypto assets have the potential to stimulate economic rise, promote financial innovation, and combat inflation, especially in the context of Trump's economic plan. However, the nomination still requires Senate approval. Next week, traders' attention will be focused on the July CPI and PPI data to be announced on Tuesday and Thursday, respectively, as well as the retail sales data and the preliminary Michigan University consumer confidence survey report for August to be announced on Friday. Even before the mutual tariffs take effect, higher-than-expected inflation data may prompt traders to reduce bets on interest rate cuts.