Wednesday, April 27, 2011
Watch FOMC Press Conference With Ben Bernanke Today at 2:15pm EST Here
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Chairman Ben S. Bernanke will hold press briefings four times per year to present the Federal Open Market Committee's current economic projections and to provide additional context for the FOMC's policy decisions.
In 2011, the Chairman's press briefings will be held at 2:15 p.m. following FOMC decisions scheduled on April 27, June 22 and November 2. The briefings will be broadcast live on the Federal Reserve's website. For these meetings, the FOMC statement is expected to be released at around 12:30 p.m., one hour and forty-five minutes earlier than for other FOMC meetings.
The introduction of regular press briefings is intended to further enhance the clarity and timeliness of the Federal Reserve's monetary policy communication. The Federal Reserve will continue to review its communications practices in the interest of ensuring accountability and increasing public understanding.
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Fed Committee stated:
ReplyDelete"Increases in the prices of energy and other commodities have pushed up inflation in recent months. The Committee expects these effects to be transitory, but it will pay close attention to the evolution of inflation and inflation expectations,"
"The FOMC is maintaining its existing policy of reinvesting principal payments from its securities holdings and will complete purchases of $600 bln of longer-term Treasury securities by the end of the current quarter."
Bond prices gained following the announcement but are now pulling back. Dollar has sold off since the announcement. ES saw a bid and is trading near the highs of the day.
Now we wait for the Bernanke Press Conference at 2:15pm EST