FED_SPEECH
Fed Speeches
Between meetings, Fed officials steer expectations through speeches — the chair and voting members can move markets mid-sentence.
| Published by | Federal Reserve officials |
|---|---|
| Frequency | Ongoing (blackout ~10 days before each FOMC meeting) |
| Release time | Varies by event |
What it measures
Fed governors and regional presidents speak at conferences and testimony. Because policy runs on expectations, these remarks are the committee’s expectation-management channel between meetings.
Why traders watch it
- Repricing happens between meetings: one hawkish line from the chair can do a rate hike’s work.
- Speaker hierarchy matters — chair and governors carry more weight than non-voting regional presidents.
How to read it
- Weigh the speaker first: chair > governors > voting presidents > non-voters.
- Watch for distance from the last statement — new conditions or timing language is the signal.
- Q&A sessions often produce the actual headline, not the prepared text.
FAQ
Why did one speech move the market so much?
When a heavyweight speaker shifts language from the last official statement, markets treat it as the committee flying a trial balloon — expectations reprice immediately.
What is the blackout period?
Roughly ten days before each FOMC meeting, participants stop public policy commentary. Speech-driven volatility clusters just before blackout begins.
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The official source of each release is authoritative. Not investment advice.