Director of Education at Trading UniversityWed, May 01 2013 17:45 GMT
Duration: 0 h, 45 min
Moderator: Vicky Ferrer
Chairman Bernanke’s resolve in putting job growth and market stability ahead of all else will continue as we see the Fed leaving its bond buying operations open ended. Last month’s disappointing jobs growth number supports Bernanke, and Vice Chair Yellen’s earlier decisions to extend QE policies. Bernanke enjoys the support of the majority of voting members of the FOMC, with previous hawks quieted by the central bank’s victories on the inflation front. With inflation slowing, the banks current zero interest rate policies are becoming more acceptable to a larger percentage of market watchers. It will be harder to get a fix on the seriousness of the currency market’s reaction to the meeting until we get past the ECB’s meeting the following day. Press coverage will probably focus on the likelihood that Janet Yellen will succeed Bernanake as the first female Fed Chairman.