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Major Agenda Fri, Nov 6 ET 9:10 AM pre-market 1 min read
Musalem recently called for a rate increase soon. His speech is an opportunity to hear whether he maintains that position and how he weighs employment against inflation. It follows the jobs report, but no speech topic is supplied, so a response to the data is not guaranteed. His view is not a Fed policy decision.[1]
If he discusses policy, listen for explicit support for another increase and what evidence would change his mind. A firmer tightening stance could pressure property, indebted businesses and growth stocks through bond yields; a more cautious stance could ease that pressure. Banks might earn more on loans but face costlier deposits and weaker borrowing demand. Watch whether other officials agree rather than treating one speech as a shared position.[1]