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Warsh Testimony/Several Fed Speakers, Congress Returns, US Data Deluge (including inflation), BoC/BoK Decisions

Published on July 12, 2026

Kim Wallace

Senator Lindsey Graham’s sudden passing will further complicate Majority Leader Thune’s floor management chores after the upper chamber completes official mourning of The Palmetto State’s senior senator. Once this important personal process concludes, Thune’s practical Senate duties revert to the remaining summer legislative agenda I covered in a Friday note (HERE). Pentagon annual policy and FY26/FY27 money issues along with digital asset market structure, agricultural policy, and Todd Blanche’s nomination to run DoJ highlight the congressional work list this period.

US-Iran military and diplomatic engagements continued overhang will inform risk appetite along with a long list of Fed Speakers, including Chairman Warsh, Vice Chair Jefferson, and NY Fed Bank President Williams. Several Treasury Department senior nominees’ confirmation hearing (en banc), and central banks of Canda and South Korea rates decisions round out a full summer weekly policy calendar.

OUTLOOK (all times Eastern)

Monday

Fed Vice Chair for Supervision Bowman participates virtually in the Bank Policy Institute’s roundtable on modernizing financial regulation.

BOE Chief Economist Huw Pill speaks at the three-day International Finance and Banking Society conference in London.

5:00p.m., Chairman Warsh hosts ECB President Lagarde at the Federal Reserve Board headquarters.

10:30p.m., China begins two days of June macro data releases.

12:30p.m., Fed Governor Waller joins a NY Association of Business Economics, NYC.

Tuesday

9:00a.m., Treasury Secretary Bessent hosts President Lagarde at Department headquarters.

10:00a.m., Chairman Warsh briefs the House Financials Services Committee on the first of two statutorily mandated semi-annual monetary policy report (HERE).

10:00a.m., House Foreign Affairs Committee members discuss the Commerce Department Bureau of Industry Security FY27 budget.

11:30a.m., Senate Finance Committee set to vote on several International Trade Commission nominations.

12:40p.m., Fed Governor Barr discusses artificial intelligence at the Board’s Annual Financial Inclusion Conference.

1:00p.m., Chicago Fed Bank’s Goolsbee engages fireside chat with the Kenosha Area Business Alliance.

1:30p.m., Fed Governor Cook moderates a discussion on consumers, artificial intelligence, and financial inclusion at the Board’s annual Financial Inclusion Conference.

2:55p.m., Fed Vice Chair for Supervision Bowman discusses responsible innovation and financial inclusion at the Board conference via pre-recorded video.

Wednesday

8:45a.m., New York Fed Bank’s Williams keynotes an event organized by Partnership for New York City.

9:00a.m., Senate Judiciary Committee scheduled two-day confirmation hearings for Todd Blanche’s Attorney General nomination.

9:15a.m., BoC rate decision followed by Governor Macklem’s presser.

10:00a.m., Chairman Warsh reprises the semi-annual monetary policy report for Senate Banking Committee Members.

10:00a.m., House Financial Services Committee’s semi-annual Consumer Financial Protection Bureau hearing.

1:00p.m., Fed Governor Cook discusses the economic outlook at the Exchequer Club of Washington DC.

2:00p.m., Fed Board releases the June Biege Book.

4:00p.m., BoE Governor Bailey delivers the Annual Financial and Professional Services dinner speech at Mansion House (text released at 10am).

8:50p.m., Bank of Korea begins process of announcing and explaining its Base Rate decision.

Thursday

10:00a.m., several Treasury Department nominees’ confirmation hearings with the Senate Finance Committee.

10:00a.m., CFPB director Russell Vought reprises the agency’s semiannual report for Senate Banking Committee members.

12:30p.m., Dallas Fed Bank’s Logan addresses the audience at the Houston branch of the Dallas Fed.

1:25p.m., Kansas City Fed President Jeff Schmid keynotes the Federal Reserve Bank of Kansas City Economic Forum.

7:00p.m., Federal Reserve Vice Chair Jefferson comments on the US Economy and Monetary Policy at the Stanford Institute for Economic Policy Research.

Friday

The World Artificial Intelligence Conference convenes for four days in Shanghai (HERE).

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