Fed Chair Janet Yellen speaks to the US Chamber of Commerce at 2210 GMT (6:10 pm ET) today in Washington.
Yellen is proving to be an extremely guarded, dare I say boring, Fed leader. She is reticent to say almost anything that would move markets so the risks are low.
What she’s good at is leaving markets with a distinct dovish impression without saying anything particularly interesting. She’s done it by focusing on risks to employment and housing so that’s probably the playbook today.
She’s apt to say something like that the Fed won’t raise rates until the recovery is strong. That’s a repeat of earlier comments but the stock market bulls are in charge of the market and even an innocent comment like that might be enough to spark a turnaround.
