SUMMARY
Geopolitical developments after the Friday close and over the weekend did not lower tensions in either hot war. Congress this week begins considering sending additional aid to Tel Aviv and Kyiv. Fed speakers overwhelm the weekly calendar from start to end with a national interview featuring Chair Jerome Powell, numerous speeches, a Fed System labor market conference, fireside chats, and regional economic outlooks. Also, just as regional bank anxieties resurface, the 4Q24 senior loan officer opinion survey drops on Monday afternoon. Treasury Secretary Janet Yellen testifies on each side of Capitol Hill about financial stability oversight. Election years usually bring higher headline risk to healthcare providers; this week prescription drugs are under the microscope. The Congressional Budget Office offers an initial 2024 macroeconomic outlook. Germany’s Chancellor Olaf Scholz visits President Biden days after the EU approved Ukraine funds and weeks before Congress is likely to follow suit.
Reminder: Please join us on Tuesday, February 6 at 10:30 a.m. for a webinar discussion with Jacob Rubashkin of Inside Elections about candidates, issues, sentiment, and Washington’s 2025 balance of power outlook (Register: here).
OUTLOOK (all times Eastern)
Weekend
7:00 p.m. on Sunday, Chair Powell’s 60 Minutes taped interview airs.
Monday
OECD interim global economic outlook published.
10:00 a.m., Chicago Fed’s Austan Goolsbee scheduled Bloomberg live interview.
12:00 p.m., Richmond Fed’s Tom Barkin spends lunch with the Economic Club of New York, Manhattan.
2:00 p.m., Federal Reserve 4Q23 Senior Loan Officer Opinion Survey on Bank Lending Practices released.
Tuesday
India Energy Week four-day conference begins.
10:00 a.m., Secretary Yellen discusses the Financial Stability Oversight Committee’s annual report to Congress with members of the House Financial Services Committee.
10:00 a.m., the House Ways and Means Committee examines “chronic drug shortages.”
10:30 a.m., 22V hosts webinar on the 2024 elections with Jacob Rubashkin of Inside Elections (Register: here).
11:00 a.m., Fed Governor Adriana Kugler discusses the outlooks for the economy and monetary policy at the Brookings Institution.
12:00 p.m., Cleveland Fed’s Loretta Mester offers an economic outlook, Columbus, Ohio.
1:00 p.m., Minneapolis Fed’s Neel Kashkari participates in moderated Q&A during a Greater Mankato Growth event.
2:00 p.m., Boston Fed’s Susan Collins opens the Federal Reserve System’s “Uneven Outcomes in the Labor virtual conference.
7:00 p.m., Philadelphia Fed’s Patrick Harker address the Fed’s role in the US economy at the Rowan Institute for Public Policy & Citizenship in Glassboro, New Jersey.
Wednesday
11:30 a.m., Boston Fed’s Collins discusses the economy at the Boston Economic Club.
12:30 p.m., Richmond Fed’s Barkin joins a conversation at the Economic Club of Washington, DC about the US economic outlook, regional economy, and the economic indicators policymakers monitor.
2:00 p.m., the first 2024 Congressional Budget Office releases its Budget and Economic Outlook.
2:00 p.m., Fed Governor Michelle Bowman discusses support for entrepreneurs and small businesses at the Federal Reserve System’s “Uneven Outcomes in the Labor Market Conference.”
Thursday
Nevada Republican Caucus.
Pakistan holds general election.
South Africa’s President Cyril Ramaphosa delivers the annual State of the Nation address.
8:30 a.m., Richmond Fed’s Barkin scheduled Bloomberg interview.
9:00 a.m., Secretary Yellen discusses the Financial Stability Oversight Committee’s annual report to Congress with members of the Senate Banking Committee.
10:00 a.m., Senate Health, Education, Labor, and Pensions Committee holds hearing on prescription drug costs.
4:30 p.m., ECB Board’s Philip Lane participates in a fireside chat at the Brookings Institution.
Friday
President Biden hosts Chancellor Scholz at the White House.
1:30 p.m., Dallas Fed’s Lorie Logan participates in moderated Q&A the 14th Annual Tarrant County Transportation Summitt in Hurst, Texas.
