Key speeches and events today prior to Fed’s blackout: Waller, Bowman, Goolsbee, and more

Waller and Bowman are likely to be of the most interest to markets. 

The times below are in GMT / US Eastern time format.

1500 / 1000 Federal Reserve Bank of Chicago President Austan Goolsbee gives welcome and opening remarks before hybrid “Who Owns Midwest Farmland? And Why?” Midwest Agricultural Conference hosted by the Federal Reserve Bank of Chicago

1505 / 1005 Federal Reserve Board Governor Christopher Waller speaks on the economic outlook before an American Enterprise Institute event, “The Federal Reserve and the Economic Outlook: A Conversation with Federal Reserve Governor Christopher J. Waller,”

1545 / 1045 Federal Reserve Board Governor Michelle Bowman speaks on “Monetary Policy and the Economy” before a Utah Bankers Association breakfast

1805 / 1305 Federal Reserve Vice Chair for Supervision Michael Barr speaks virtually on the Community Reinvestment Act before event, “Modernized Community Reinvestment Act and Indian Country,”

1930 / 1430 Federal Reserve Bank of St. Louis Interim President Kathleen O’Neill Paese and Federal Reserve Financial Services Chief Payments Executive Mark Gould participate in discussion before virtual “Dialogue with the Fed — FedNow: What you Need to Know,” hosted

2030 / 1530 Federal Reserve Vice Chair for Supervision Michael Barr participates virtually in discussion on the Community Reinvestment Act before the Opportunity Finance Network Fireside Chat on the Community Reinvestment Act Regulations

The countdown is on to the Fed’s blackout, it begins on Saturday. 

  • The ‘blackout’ policy from the Federal Reserve limits the extent to which Federal Open Market Committee participants and staff can speak publicly or grant interviews. The period begins the two Saturdays preceding a Federal Open Market Committee (FOMC) meeting and ends the Thursday following the decision (decisions are always on Wednesdays).
  • Oftentimes, Federal Reserve officials will scheduled important speeches just before the blackout period begins in order to guide market participants about the upcoming meeting. In general, the Fed doesn’t like to surprise markets so officials will offer strong hints about what’s coming. If top Fed officials need to adjust market expectations between the start of the blackout and the decision, they may leak hints to the press; generally the Wall Street Journal.

The Federal Open Market Committee (FOMC) meet on December 12 and 13. there will be a refreshed Summary of Economic Projections issued with the statement on the 13th. 

The FOMC is expected to be on hold in December:

fedwatch cme 28 November 2023

This article was written by Eamonn Sheridan at Source