Institution: Tuesday’s inflation data combined with Waller’s testimony; the market is closely watching for directional signals

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ME News: On July 13 (UTC+8), investors will focus on the semiannual testimony delivered by the newly appointed U.S. Federal Reserve Chair, Kevin Wosh, before Congress on Tuesday and Wednesday, to get his latest views on inflation and interest rates, as well as an update on the progress of his Fed reform plan. Wosh may be asked by lawmakers about his broad Fed reform agenda. The Federal Reserve previously announced the list of appointments for five working groups established to assess everything from communication practices to the size of the balance sheet. Ian Lingen, head of U.S. rates strategy at BMO Capital Markets, said investors will watch Wosh’s testimony for more details and guidance on how the chair is framing the overall state of the U.S. economy and Fed policy. The market is currently in a low-trading-volume, low-confidence phase. This is the case at least before the Tuesday inflation data and Wosh’s testimony are released. (Source: Jin Ten)
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