Interesting timing, wouldn’t you say? Dan Arnall reports on ABC News:
Westminster Abbey and the Royal Wedding are so overhyped; the historic story of the week will take place on C Street in Washington, D.C. [on April 27th, the same day the media was hell-bent in discussion of Obama’s birth certificate]
At 2:15 p.m. ET [on April 27th], Ben Bernanke, chairman of the Federal Reserve, will make waves in the world of economists and Wall Streeters. For the first time in the 98-year history of the nation’s central bank, the chairman will talk to the press after an interest rate decision, fulfilling a promise he made at his first confirmation hearing back in 2005.
At the time he said, “Under Chairman Greenspan, monetary policy has become increasingly transparent to the public and the financial markets, a trend that I strongly support.”
Most Fed watchers don’t expect Bernanke to make any surprising observations about the economy. The Fed almost certainly won’t ratchet up interest rates or change the course of the widely-known QE2 program to boost economic recovery. Instead, Bernanke will likely take the podium to reinforce the post-meeting statement issued earlier in the afternoon and underline the observations the Federal Reserve’s staff economists make in their updated forecast issued as a part of the release.
Read More: ABC News