For those who did not know, this Wednesday after the FOMC meeting, the U.S. will see its first news conference by the Fed chief post FOMC meeting. While this how it works in the European Central Bank, it’s brand new for the Federal Reserve. It won’t be every meeting but four times a year. Instead of the 2:15 PM release of the FOMC announcement, that will be moved up to 12:30 PM, then at 2:15 PM will be the remarks by Bernanke followed by a Q&A. Obviously the questions asked will be of most interest, although being a political creature I am sure Bernanke will be able to answer most of them via deflection. That said, with the market hanging on every comma in a typical Fed statement, that 45 minutes should be quite volatile in markets – especially since this is the first time we are experiencing this sort of event.
Affiliation: Hanna Capital, LLC
Mark Hanna is President and Owner of Hanna Capital, LLC, a registered investment advisory firm. Mark has been a follower of markets since the late 80s, with a focus on individual equities since the mid 90s. He has been a well known commentator in the financial blogosphere for the past 5 years, following a career in corpoporate finance and accounting. Mark attended the University of Michigan where he graduated with a degree in Economics.
As an avid reader, Market Montage is the personal blogging site for Mark to share his views on economics, markets, and the like. Occasional cynicism and wit shall be deployed in his postings.
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