Fed's Williams may reveal where he lies on the dot plot next Tuesday - TD Securities
Previewing next week's significant macroeconomic events in the U.S., "Coming off the heels of June's FOMC meeting, Chair Powell and Vice Chair Williams will both speak on Tuesday," point out TD Securities analysts.
"We don't anticipate the Fed Chair to deviate significantly from Wednesday's dovish script, however he could provide additional color on the Fed's shift. Williams may reveal where he lies on the dot plot and could give indication of where his reaction function stands."
"We expect a 0.2% m/m increase in core PCE prices, which should translate to a steady 1.6% y/y print. Risks are to the downside as a "soft" 0.2% gain would take the y/y mark lower to 1.5%. Separately, we look for a rebound in consumer spending at 0.5% m/m in May following a soft 0.3% increase. Current readings suggest consumer spending is tracking close to a healthy 3% for Q2."
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