Fed Officials to Speak Before Pre-Meeting Silence Period

According to Odaily, Friday marks the last day before the Federal Reserve officials enter their pre-meeting silence period. Federal Reserve's Williams and Governor Waller are scheduled to speak after the release of the employment report, providing the final opportunity to set expectations for the upcoming meeting. With economic growth and inflation slowing, adjusting the interest rate from the current 5.3% to around 4.5% seems more reasonable. If there are no signs that July's weak employment will continue into August, some Fed officials may resist a significant rate cut of 50 basis points. However, officials who were open to a rate cut at the July meeting might support a 50 basis point cut in September if the unemployment rate rises again and job growth further slows.