Fed Hopes 1st News Conference Doesn't Roil Markets

Tuesday, 26 Apr 2011 04:20 PM

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Planners of the the Federal Reserve’s first-ever news conference, scheduled for Wednesday afternoon, are trying to balance a promise of more public dialogue with their traditional worries about saying too much, the Wall Street Journal reports.

Unlike many central banks abroad, the Fed has no history of scheduling regular Q&As with the media. So staffers are poring over every little decision, from who gets press credentials to what Federal Reserve Chairman Ben Bernanke will say in his introduction.

“Any time he opens his mouth, it could be a market mover,” said one economist and Fed-watcher, David Greenlaw of Morgan Stanley.

Bernanke is expected to keep his prepared remarks brief and spend about 45 minutes fielding questions, which will not be pre-screened. The format is likely to resemble a typical government news conference, with hands going up and the interviewee picking questioners.


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