Next Week's Macro Outlook: The Federal Reserve will announce its interest rate decision on Thursday, followed by a press conference with Powell.

BlockBeats News, October 25 — Next week, due to the continued U.S. government shutdown, there will be fewer important data releases from the United States, but several central banks will hold interest rate meetings, including the Federal Reserve, the European Central Bank, and the Bank of Japan. The following are the key points the market will focus on in the coming week (all times UTC+8):

Thursday 02:00 (UTC+8), the Federal Reserve announces its interest rate decision;

Thursday 02:30 (UTC+8), Federal Reserve Chair Powell holds a monetary policy press conference;

Friday 01:15 (UTC+8), 2026 FOMC voting member and Dallas Fed President Logan delivers a speech;

Friday 21:30 (UTC+8), 2026 FOMC voting member and Dallas Fed President Logan delivers a speech;

Before gaining a clearer understanding of inflation and the labor market, Powell is unlikely to significantly change his wording on the future policy path while announcing a 25 basis point rate cut. Therefore, considering the recent tensions in trade relations and the ongoing government shutdown, Powell and his colleagues may sound slightly dovish in their statements on Thursday, but the extent may not be significant. Even dovish members like Waller are reluctant to pre-commit to a series of rate cuts. If the Federal Reserve questions the market-expected path of another 100 basis points of rate cuts after October, the risk of traders’ disappointment will increase.