runs quiet ahead of next week's FOMC meeting, though a Fed sponsored conference on community reinvestment crops up from March 18-21.
Five, even Dr Yellen conceded risk asset valuations were "elevated", Fedspeak
for loony tune ballistic.
Barclays, for instance, says "recent Fedspeak
and latest economic projections suggest that the hurdle to begin the hiking cycle is not very high, [and] we believe the front end is vulnerable to a sell-off".
Economic Calendar16 NOV EU Sep current accountEU Sep Trade BalanceUS Sep TIC data $bnUS Oct Industrial productionUS Fedspeak
The justification of the current secrecy and Fedspeak
mumbo-jumbo is that the whole system is so unstable that it will collapse if the public gets a clear look at it in the light of day.
The word "measured" in Fedspeak
means steady and fairly regular incremental change in short-term interest, except in extraordinary circumstances.
The Fed's most recent report warns, in ever-cloudy Fedspeak
, of an "unwelcome substantial fall in inflation.
And, furthermore, as you probably do know, the second rule of Fedspeak
is: never deviate from the party line.
Monsieur Trichet soothed all worries with proper European Fedspeak
, stating: "We are alert and everybody must know that we will do whatever is needed to deliver price stability and be credible in that delivery.
Solve the puzzle of Alan Greenspan's Fedspeak
and you are on your way to millions of dollars in trading profits in the financial markets.
In fact, several governors have taken the discussion of monetary policy to the public stage in recent weeks and the lively internal debate over the future of QE2 and monetary policy is spilling out through the various channels of Fedspeak
Wholesale trade and Fedspeak
from hawk Rosengren are due next.