Although the Federal Reserve has not hiked interest rates at its last two meetings, Fed Chair Jerome Powell last week reminded everyone that the central bank always has the option to take action to rein in inflation if needed. Investors will be eyeing consumer price index data for October that comes out on the morning of Nov. 14 with their fingers crossed for more good news about inflation after a soft jobs report for October.
The week ahead: All eyes on CPI
- On Nov. 14, the Senate Banking Committee will hold a hearing on the oversight of financial regulators. Federal Reserve Vice Chair Michael Barr and Federal Deposit Insurance Corp. Chair Martin Gruenberg will testify.
- Georgetown University's Financial Markets Quality Conference will host several regulators and policymakers on Nov. 15, including Rostin Behnam, chair of the Commodity Futures Trading Commission, SEC Commissioner Hester M. Peirce, and Reps. French Hill, Stephen Lynch, Bryan Steil and Jim Himes, who all serve on the House Financial Services Committee.
- On Nov. 14, U.S. CPI data for October drops, followed the next day by retail sales numbers for October.
- Initial jobless claims comes out on Nov. 16, followed by data on building permits for October on the 17th.
- CalPERS on Nov. 13 will consider incorporating a set of labor principles into its investment policy statement.
- Washington State Investment Board will meet on Nov. 16 to discuss a new private equity commitment and private equity and real estate annual plans.
- A growing controversy over an Oklahoma law requiring pension funds to terminate asset managers said to be boycotting oil and gas companies is expected to intensify as the boards of five Oklahoma pension funds meet next week. The Oklahoma Police Pension & Retirement System and the Oklahoma Teachers' Retirement System will meet Nov. 15; the Oklahoma Public Employees Retirement System and the Oklahoma Law Enforcement Retirement System will meet on Nov. 16; and the Oklahoma Firefighters Pension & Retirement System will meet on Nov. 17.
- Nov. 15 will see the release of U.K. consumer price index data for October.
- The European Union will release its October CPI numbers on Nov. 17.
- The SALT iConnections Asia conference kicks off in Singapore on Nov. 14 and ends Nov. 16. Speakers include executives from CPP Investments, Alberta Investment Management and Blackstone.
- The Singapore FinTech Festival runs from Nov. 15-17 with speakers including leaders from Temasek talking about topics such as blockchain technology.
- The 2023 Principal APAC Summit is happening Nov. 13-16 in Hong Kong with speakers including Thomas Cheong, president of Asia, Principal Financial Group.
- Japan will release third-quarter gross domestic product data on Nov. 14.