Investors will be looking at China’s factory activity on Thursday, as well as PMI readings across the region on Thursday.
Federal Reserve Chair Jerome Powell said in histhat central bank policymakers"are attentive to signs that the economy may not be cooling as expected."
"So far this year, GDP growth has come in above expectations and above its longer-run trend, and recent readings on consumer spending have been especially robust," Powell said in his speech."In addition, after decelerating sharply over the past 18 months, the housing sector is showing signs of picking back up. Additional evidence of persistently above-trend growth could put further progress on inflation at risk and could warrant further tightening of monetary policy.
Generally considered a more dovish member of the Federal Open Market Committee, Goolsbee did not commit to a policy position. But he said that if positive inflation data continues,"Our argument is going to revolve around, well, how long should we keep rates at the levels they are, rather than how much higher should the rates go?"Cleveland Federal Reserve President Loretta Mester said Friday she still thinks additional interest rate hikes will be needed to control inflation.
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