Specs
© Forex Factory
Description Due to testify on the Semiannual Monetary Policy Report before the House Financial Services Committee, in Washington DC;
Source Federal Reserve (latest release)
Speaker Federal Reserve Chair Janet Yellen;
Usual Effect More hawkish than expected = Good for currency;
Next Release Feb 11, 2016
FF Notes Fed Chair Feb 2014 - Feb 2018. Fed Governor Oct 2010 - Jan 2024. The testimony usually comes in 2 parts: first she reads a prepared statement (a text version is made available on the Fed's website at the start), then the committee will hold a question and answer session. Since the questions are not known beforehand they can make for some unscripted moments that lead to heavy market volatility;
Why Traders
Care As head of the central bank, which controls short term interest rates, she has more influence over the nation's currency value than any other person. Traders scrutinize her public engagements as they are often used to drop subtle clues regarding future monetary policy;
Acro Expand Federal Reserve (Fed);