Since then, Fedtalk has become an even bigger obsession than normal.
This week is packed with speeches by Fed governors that markets are watching for more clues on the taper.
Tomorrow we have three Fed presidents and a five-year treasury auction.
Here's a quick look at what's on the calendar:
- Minneapolis Fed President, Narayana Kocherlakota was scheduled to speak on monetary policy to the Society for Economic Dynamics in Seoul on June 26, but that engagement was cancelled yesterday.
- Next up are Dallas Fed President Richard Fisher and Richmond Fed President Jeffrey Lacker that will appear before the House Financial Services Committee at 10 a.m. ET. Fisher and Lacker will primarily be discussing the Dodd-Frank Act and risk of more bailouts.
- Wrapping up Fedpalooza is the five-year note auction at 1 p.m. ET. Investors of course watch this because interest rates tend to reflect monetary policy expectations.
But that isn't it. We have a whole host of speeches by Fed governors coming up on Thursday and Friday as well.
Here's a great chart from Bank of America that shows various FOMC members on the hawk-dove scale:
Note: A previous version of this article stated that New York Fed President William Dudley would be speaking tomorrow. He will be speaking on Thursday, June 27.
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