It’s always a big deal when The Chairman speaks, but Ben Bernanke’s speech tomorrow at The Federal Reserve is getting a lot of hype for a couple reasons.
One is timing: There are tons of questions swirling right now about the FOMC’s course of action.
But also it’s exciting because it’s specifically about the key questions of the day. This isn’t some speech about getting lending going to small business (not that that isn’t important).
Jon Hilsenrath at WSJ has a preview, and the basic gist is that Ben Bernanke probably won’t say QE is a done deal — since it’s technically not — though he certainly won’t dissuade anyone from the notion that it’s coming in early November.
This could be one of those situations where it’s hard for him to live up to expectations.
Anyway, the speech as at 8:15 AM ET, so it will be long fully digested by the time we get to the opening bell.