Fed Reserve chairman Ben Bernanke said last week that the Fed could begin to taper its bond buying program this year.
Since then, Fedtalk has become an even bigger obsession than normal.
This week is packed with speeches by Fed governors that markets are watching for more clues on the taper.
Tomorrow we have four Fed presidents and a five-year treasury auction.
Here’s a quick look at what’s on the calendar:
- Minneapolis Fed President, Narayana Kocherlakota, kicks things of at 1:55 a.m. ET, with a speech on monetary policy to the Society for Economic Dynamics in Seoul.
- Next up are Dallas Fed President Richard Fisher and Richmond Fed President Jeffrey Lacker that will appear before the House Financial Services Committee at 10 a.m. ET. Fisher and Lacker will primarily be discussing the Dodd-Frank Act and risk of more bailouts.
- New York Federal President William Dudley will speak on the job market and the U.S. economy to college graduates in New York, also at 10 a.m. ET.
- Wrapping up Fedpalooza is the five-year note auction at p.m. ET. Investors of course watch this because interest rates tend to reflect monetary policy expectations.
Here’s a great chart from Bank of America that shows various FOMC members on the hawk-dove scale:
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