Macroeconomic Outlook for Next Week: Market Focus on Fed Chair Nominee, GDP Data to Test Rate Cut Results

Next week will welcome the Christmas market, and the US stock market will close early on Wednesday and remain closed all day on Thursday.
The market is focused on whether Trump will announce the Fed chair nominee during the Christmas period. Currently, the probability of Kevin Hasset, the Director of the National Economic Council, becoming the next Fed chair has significantly increased again, to about 54%. Former Fed governor Kevin Warsh has a nomination probability of about 21%, while Fed governor Christopher Waller has a nomination probability of about 14%. Important macro events and data for next week are as follows.
Tuesday: U.S. Q3 real GDP annualized quarterly rate preliminary; U.S. Q3 real personal consumption expenditures quarterly rate preliminary; U.S. Q3 core PCE price index annualized quarterly rate preliminary. Wednesday: Bank of Canada releases monetary policy meeting minutes; U.S. initial jobless claims for the week ending December 20. Thursday: Bank of Japan Governor Ueda Kazuo gives a speech at the Japan Business Federation; Japan's November unemployment rate. Market reminder: Wednesday Hong Kong Stock Exchange half-day trading, New York Stock Exchange closes early at 02:00 Beijing time on the 25th; U.S. stock market closed for Christmas on Thursday.