Macroeconomic Outlook for Next Week: Market Focuses on Fed Chair Nominee Candidates, GDP Data Tests the "Results" of Rate Cuts

On December 21, the Christmas market is approaching next week. The US stock market will close early on Wednesday and be closed all day on Thursday. The market is focused on whether Trump will announce the nominee for the Chairman of the Fed during the Christmas period. Currently, Kevin Hasset, Director of the National Economic Council, has a significantly higher probability of becoming the next Fed Chairman at about 54%, followed by former Fed Governor Kevin Warsh with a nomination probability of about 21%, and Fed Governor Christopher Waller with a nomination probability of about 14%. The important macro events and data for next week are as follows: Tuesday: Initial value of the annualized quarterly GDP for the third quarter of the US; Initial value of the annualized quarterly personal consumption expenditures for the third quarter of the US; Initial value of the annualized quarterly core PCE price index for the third quarter of the US; Wednesday: The Bank of Canada will release the minutes of its monetary policy meeting; Initial claims for unemployment benefits in the US for the week ending December 20; Thursday: Bank of Japan Governor Ueda Kazuo will deliver a speech at the Japan Business Federation; Japan's unemployment rate for November; Market closure reminder: The Hong Kong Stock Exchange will have a half-day market on Wednesday, and the New York Stock Exchange will close early at 02:00 Beijing time on the 25th; The US stock market will be closed on Christmas Day, Thursday.