**[Next Week's Macro Outlook: Fed Meeting Approaches, Silver Enters the "Triple-Digit" Era—Will Trump Add Fuel to the Fire?]** After threatening Federal Reserve Chair Jerome Powell and forcibly attempting to control Venezuelan President Nicolás Maduro, U.S. President Donald Trump seems eager to stir the markets further. This week, another round of shocking market volatility triggered by Trump unfolded. However, for precious metals, even Trump's latest "concession" failed to deter gold and silver bulls, who have pushed these metals to the next milestone: silver has surged past $100, and gold is nearing $5,000. Looking ahead to next week, market volatility is unlikely to subside. Weekend concerns over Iran and a generally tense atmosphere are heating up the markets, especially with the Federal Open Market Committee (FOMC) meeting approaching and Trump preparing to announce his pick for the next Federal Reserve Chair. Below are the key points the market will focus on in the coming week: - **Tuesday, 11:00 PM:** U.S. January Conference Board Consumer Confidence Index, U.S. January Richmond Fed Manufacturing Index - **Thursday, 3:00 AM:** Federal Reserve FOMC interest rate decision - **Thursday, 3:30 AM:** Powell's monetary policy press conference - **Thursday, 9:30 PM:** U.S. initial jobless claims for the week ending January 24, U.S. November trade balance - **Friday, 9:30 PM:** U.S. December PPI data, Canada November GDP month-over-month - **Friday, 10:45 PM:** U.S. January Chicago PMI data The biggest highlight of next week may not come from the Federal Reserve or economic data. Trump is likely to try to steal Powell's spotlight by finally announcing his nominee to replace Powell in May. It is believed that Trump has narrowed the list of candidates to four: White House economic advisor Kevin Hassett, Federal Reserve Governor Christopher Waller, former Federal Reserve Governor Kevin Warsh, and the latest addition to the list, BlackRock's Chief Fixed Income Officer Rick Rieder.