Monday Morning Meeting Notes (08/21/2023)

General Info:

• The minutes from the U.S. Federal Reserve’s (Fed) July meeting expressed a cautionary tone
• “With inflation still well above the Committee’s longer-run goal and the labor market remaining tight, most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy”
• Fun Fact: The blob of toothpaste on a toothbrush has a name. It's called a “nurdle” and there was once a lawsuit over which toothpaste company had the right to portray it

Monday 08/21:

• National Spumoni Day
• China loan prime rates
• Taiwan export orders for July
• Jeffrey Schmid, with more than 40 years of banking and regulatory experience, takes office as the Kansas City Fed president; he’s replacing Esther George, who retired in January

Tuesday 08/22:

• Lowe’s, Medtronic PLC, and Baidu report earnings
• U.S. existing home sales for July

Wednesday 08/23:

• Nvidia, Autodesk, and Advance Auto Parts report earnings
• S&P Global Services PMI data for the U.S., U.K., Eurozone, France, and Germany
• S&P Global Manufacturing PMI data for the U.S., U.K., Eurozone, France, and Germany
• Jibun Bank Japan Manufacturing PMI and Services PMI data
• U.S. new home sales for July
• U.S. Republican Party presidential debate in Milwaukee featuring former Vice President Mike Pence, Florida Governor Ron DeSantis, former Ambassador to the U.N. Nikki Haley, and others

Thursday 08/24:

• Intuit, Toronto-Dominion Bank, and PagSeguro report earnings
• The Kansas City Fed’s annual economic policy symposium in Jackson Hole, Wyoming begins and runs through August 26^th
• U.S. initial jobless claims and continuing claims data

Friday 08/25:

• Fed Chair Jerome Powell gives a speech on the economic outlook
• U.S. University of Michigan consumer sentiment index