Definition
Speeches, interviews and testimony from Fed officials between meetings, which markets comb for hints about the next rate decision.
The story
Fed officials speak often, and they don't all agree. The chair speaks for the committee, and markets also track which officials vote on rates this year. Officials go quiet during the blackout period around each meeting.
Why markets watch it
A single comment can move rate odds, yields and futures, especially when it surprises.
Connects to
Blackout periodForward guidanceHawkish and dovishCME FedWatch
Last seen in
We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms