Saturday, July 25, 2009

Upcoming Fedspeak

San Francisco Fed President Janet Yellen speaks Tuesday in Coeur D'Alene, Idaho. Ever since her name has started to be mentioned as a possible successor to Ben Bernanke as Fed chair, she has really turned up the rhetoric, and has become an aggressive dove in favor of Fed easing. Guranteed, on Tuesday she'll call for more easing.

New York Fed President William Dudley speaks Wednesday in New York. It always pays to listen to the NY Fed prez. His office is just across the street from JP Morgan's downtown headquarters and just blocks from the Goldman Sachs world headquarters.

In the pre-internet days, you had to go to the New York Fed building on Thursday afternoon's to get a copy of the H.6 money supply numbers. The room would be packed with assistants, runners and news people. Everybody watched the numbers back then and wanted them instantly---in New York anyway.

One week I happened to be in Boston, and stopped by the Boston Fed on Friday, a full probably 15 hours after H.6 was released for that week. No one in the Boston Fed, the press office or research, could find the then current H.6 report. I was totally dumbfounded. Boston was a totally Keynesian town, even back then.

1 comment:

  1. Janet Yellen- first female head of Federal Reserve?

    Not gonna happen, at least til Larry gets his turn. By the time she runs it, they'll hand her all the pieces in a box, because that will be all that's left.