What will ben bernanke say tomorrow

That will be whatever the Fed's Open Market Committee has to say tomorrow around p. Eastern time in releasing its scheduled economic forecast. So any deviation between the FOMC statement and what Bernanke says could embarrass the Fed, cause confusion or, if he really strays off-message, throw the markets for a loop. What we're unlikely to detect is any factional tension among Fed officials on monetary policy.

As Marc Chandler , global head of currency strategy at investment bank Brown Brothers Harriman , points out:. In fact, the policy rate has been increased only once, in December , and market participants now appear to expect few if any additional rate rises in coming quarters.

Eberly and James H. What happened? Market commentary on FOMC decisions typically focuses on short-run factors, such as the uncertainty created by the recent vote in the United Kingdom on whether that country should leave the European Union. The more fundamental reason for the shift in policy trajectory is the ongoing change in how most FOMC participants view the key parameters of the economy. With a shorter distance to travel to get to a neutral level of the funds rate, rate hikes are seen as less urgent even by those participants inclined to be hawkish.

On the one hand, lower potential output growth suggests that slow GDP growth may not be due primarily to inadequate monetary or fiscal policy support for aggregate demand, but rather reflects constraints on the supply side of the U. On the other hand, as mentioned earlier, the recent decline in productivity growth and thus in potential output has been both large and mostly unexpected. Some have hypothesized that this decline is not purely exogenous but has been influenced, to some extent, by short-term economic conditions.

For example, the slow recovery from the Great Recession likely impeded capital investment, business formation, and the acquisition of skills and experience by workers, which in turn may have contributed to the disappointing pace of productivity gains.

Lael Brainard talked about monetary policy and the economy. She focused on the many considerations the Federal Reserve…. Four former Federal Reserve employees talked about the domestic and global factors considered before raising interest rates.

Ben S. New York time. No cameras are allowed so CNBC will report Bernanke's words from the piece of paper handed to senior economic correspondent Steve Liesman at the event. Liesman, already in Jackson Hole, points out the following comments from Lehman economist Drew Matus who says Bernanke may choose NOT to say anything that would give traders clues about monetary policy.

In addition, the topic of the conference, "Housing, Housing Finance and Monetary Policy," is quite relevant to the markets. Nonetheless, we expect Bernanke to try avoiding any signals on current monetary policy," writes Matus. For example, in the last month of distress in markets his only communication has been through formal directives from the Fed," he says.

Matus does caution that with so many Fed policy makers out and about that some interesting tid bits could sneak out at Jackson Hole, but the conference is supposed to be an opportunity to "think big thoughts, talk to people wearing pocket protectors and hike the Grand Tetons.

Last year, Bernanke "tried very hard to avoid saying anything relevant on monetary policy.