Federal Reserve chair Janet Yellen is speaking at the Economic Club of New York on Tuesday.
At 12:20 p.m. ET, her speech will be published.
It's the first time we will hear from Yellen since the Fed's meeting two weeks ago, when it cut its outlook for interest rate hikes this year from four to two.
Yellen follows five regional Fed governors in the last two weeks, who at times sounded more willing to raise rates than she did at her press conference.
And so, markets will be watching out for whether Yellen maintains her tone, or gives markets a more upbeat expectation for the Fed's plan to continue raising rates gradually.
The contention largely revolves around the "dot plot", which shows FOMC members' expectations for rates, and telegraphs the number of hikes they expect. Yellen has the burden of crafting a message that leads the market away from the precision of the dots to the Fed's intended message, according to BMO's fixed income strategy team in a morning note.
Deutsche Bank's Alan Ruskin wrote in a note Tuesday that Yellen's biggest issue is that her assessment of the economy is 'flying blind', without the latest jobs report (due Friday), and national manufacturing data that's expected to show a long-awaited rebound.
Stock indexes were little changed ahead of the speech. |
发表于 2016-3-29 11:54
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