While the economy appears to be the main issue, don't be surprised if Fed speakers will be the key market movers this week.
Deutsche Bank, in a note to clients an hour ago, noted that there are eight monetary policy speeches scheduled this week, and it's clear that financial market stability is the foremost issue on their minds.
They said, "Policymakers appear to be of the view that the recent rate cuts, the last one in particular, were insurance moves meant to help stabilize financial markets and forestall some of the economic fallout resulting from the market disruptions; but they are also of the view the cuts could be transitory if inflation heats up."
The tone will be key here; will there be any hints of an additional rate cut at the next meeting in two weeks? Or will some speakers indicate the door is closing?
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