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Study: Bernanke Ranked Fed's Single Biggest Market Mover

Friday, 01 Apr 2011 08:58 AM

Federal Reserve Chairman Ben Bernanke can open his mouth and move financial markets more than any other Fed official, according to Macroeconomic Advisers, a forecasting firm.

The company bases its metrics on public statements made by Fed officials and their effects on two-year Treasury yields. Bernanke was the winner.

"Among all FOMC members, his communications with the public had the largest impact on the two-year Treasury yield, where we measured the total impact as the sum of the absolute value of the market impact of each of his speeches," Market Advisers says on its blog.

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Ben Bernanke (Getty photo)
However, St. Louis Fed President Jim Bullard was a close second, which was not surprising due to his exposure to the press.

"Bullard has been more willing to do media interviews than other Fed officials and had many public meetings with groups ranging from students to local business leaders," The Wall Street Journal says of the findings.

"His warning last summer that the U.S. economy could fall into Japan-style deflation got the attention of investors."

Bernanke may likely hold on to his title, as the nation's top economist plans to hold press conferences following Federal Open Market Committee meetings, where the fate of U.S. interest rates are decided four times a year.

The first such briefing will take place after the April 27 meeting.

Bernanke has also appeared in town hall forums and on news programs such as "60 Minutes" as part of his effort to make the Fed more transparent.

"I'm answerable to the American people," Bernanke has said, according to the Los Angeles Times.

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Federal Reserve Chairman Ben Bernanke can open his mouth and move financial markets more than any other Fed official, according to Macroeconomic Advisers, a forecasting firm. The company bases its metrics on public statements made by Fed officials and their effects on...
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2011-58-01
Friday, 01 Apr 2011 08:58 AM
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