The Federal Open Market Committee blackout period has mercifully spared the public from the cacophony of Fed-speak for nearly two blissful weeks. US Federal Reserve communications seem increasingly to have an insider, esoteric quality – one reflecting legitimate technical debate, but also bound to confuse and perturb the public. Ahead of the blackout period, seemingly all board members and regional presidents offer speeches, tilting in a hawkish or dovish direction in nuanced monetary policy jargon. On FOMC decision day, the committee’s statement is brief and perhaps only a few code words are changed. Immediately, ... (full story)