Crowdsourcing the Fed
- Posted by DynamicHedge
- on January 14th, 2013
Little known fact: there was a time when covering the Federal Reserve meant you stared at a photograph of Paul Volcker for a couple of hours and wrote 4000 words on it. Back in those days the Fed gave nothing. No insight into it’s decision making process, no timelines for programs, no color on internal debates, and definitely no indication of further policy.
Bernanke vowed to usher in a new era of transparency. By most accounts he’s addressed all of the major complaints. Meeting minutes are now released within weeks of the meeting rather than months. The chairman holds a press conference immediately following FOMC meeting announcements and takes questions from interested parties, similar to a CEO on a quarterly conference call. He even jumps on 60 Minutes when things get really heated to talk about his feelings.
The newest trend in transparency is enabling twitter users to ask the Chairman questions via #fordschoolbernanke. Some worry that transparency has actually put more focus on the Fed. I think what’s put more focus on the Fed is the fact that they spin over $80 billion in QE a month. What do I know?
Wanna ask Bernanke a question? Now’s your chance.
Disclaimer: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please click here for a full disclaimer.
DynamicHedge is an equities, futures and derivatives trader based on the West Coast. He runs a long/short opportunistic relative-value strategy within a proprietary trading group. More
- April is very bullish in a weird way
- Representativeness Bias: Easy Classifications
- Confirmation bias: A dependable filter of objective information
- Conservatism Bias: How to know what new information to focus on
- Sentiment Flip
- Pardon the interruption
- Wait for the market to flex
- How SPY typically trades after a gap up/down on NFP report
- Ebay Monster Gaps
- Ghosts of Death Cross Past