Macroeconomic Outlook for Next Week: The Week of Fed's Decision! The Fed Faces the "Ultimate Showdown"

On Tuesday at 09:00, Fed Chairman Powell will speak at a commemoration event;
On Tuesday at 23:00, Fed Governor Bowman testified before the House committee.
Wednesday 21:15, US November ADP Employment Change;
Wednesday 21:30, US September Import Price Index MoM;
Wednesday 22:15, US September Industrial Production MoM;
Wednesday 22:45, US November S&P Global Services PMI Final;
Wednesday 23:00, US November ISM Non-Manufacturing PMI;
Thursday 21:30, U.S. Initial Jobless Claims for the week ending November 29;
Friday 23:00, the initial value of the U.S. 12-month inflation rate expectation for December, the initial value of the University of Michigan consumer confidence index for December, the year-on-year core PCE price index for September, the month-on-month personal spending for September, and the month-on-month core PCE price index for September.

If service sector activity shows healthy growth again in November, it will support hawkish sentiments within the Fed, while a sudden drop to 50.0 or lower would support reasons for an immediate rate cut. Equally important is next Wednesday's ADP employment report. The official non-farm payroll report for November will not be released until December 16, coupled with the cancellation of the October report, the ADP private sector employment survey will provide important updates on the labor market.