Next week's macro outlook: Federal Reserve meeting approaching, silver enters the "three-digit" era. Will Trump add fuel to the fire again?

CoinWorld.net January 24 News: After threatening Federal Reserve Chair Jerome Powell and forcibly controlling Venezuelan President Maduro, President Trump seems to want to add some “spice” to the market. This week, a shocking market fluctuation triggered by Trump has played out again. But for precious metals, even Trump’s latest “backdown” couldn’t scare away the bullish gold and silver investors; they have pushed precious metals to the next milestone: silver surpassing $100, and gold approaching $5,000. Looking ahead to next week, market volatility is unlikely to diminish. The weekend anxiety surrounding Iran and the generally tense atmosphere are heating up the market, especially with the Federal Open Market Committee (FOMC) meeting approaching and Trump preparing to announce his choice for the next Fed Chair. Here are the key points to watch in the new week:

• Tuesday 23:00: US January Conference Board Consumer Confidence Index, US January Richmond Fed Manufacturing Index;
• Thursday 03:00: FOMC interest rate decision announcement;
• Thursday 03:30: Powell holds a monetary policy press conference;
• Thursday 21:30: US initial jobless claims for the week ending January 24, US November Trade Balance;
• Friday 21:30: US December PPI data, Canada November GDP monthly rate;
• Friday 22:45: US January Chicago PMI data.

The biggest highlight next week may not come from the Fed or data releases. Trump is very likely to try to steal Powell’s thunder and ultimately announce who he will nominate to succeed Powell in May. It is believed that Trump has narrowed down the candidates to four: White House Economic Advisor Hassett, Federal Reserve Governor Waller, former Fed Governor Wosh, and recently added to the list, BlackRock Chief Bond Investment Officer Rick Reider.