Ben Bernanke Will Say Something Interesting Today ONLY If He Makes A Mistake

 

"Once upon a time, the Federal Reserve Chairman’s Semiannual testimony in fulfillment of the Full Employment and Balanced Growth Act (aka “Humphrey Hawkins”) was a marquee event for markets," says Vincent Reinhart, Morgan Stanley's Chief U.S. Economist and a former Federal Reserve insider.

Reinhart is referring to the two-day testimony which Ben Bernanke will begin giving to the Senate Banking Committee on Tuesday.

"Humphrey Hawkins was also a major risk event as investors placed importance on an event the Fed deemed important," Reinhart continues. "That was then, this is now."

As you can tell from the tone, Reinhart expects the testimony, which includes economic forecasts, to be pretty uneventful.

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This is a good one : central banks conferences are now there to hide things not show :):)