FOMC interest rate decision time change?

Millionaire · Apr 27, 2011

The ecomonic calendars are saying this will be 12:30 New york time today.

Followed by a press conference at 2:15..

Does anyone know if this is now the new time schedule for FOMC days going forward or just a one off for today?

Also will the policy statement be issued at the time of the rate decision or at the start of the press conference?

trendtech · Apr 27, 2011

http://www.fxopen.com/Calendar.aspx

trendtech · Apr 27, 2011

Sorry for not replying in full. I guess it's one off today. Interesting how the markets will react.

Millionaire · Apr 27, 2011

Quote from trendtech:

Sorry for not replying in full. I guess it's one off today. Interesting how the markets will react.

My guess would be that this maybe the new format going forward. As it is also the format always used by the ECB, i.e. the rate decision followed by a press conference. I suppose time will tell.

wrbtrader · Apr 27, 2011

Quote from Millionaire:

My guess would be that this maybe the new format going forward. As it is also the format always used by the ECB, i.e. the rate decision followed by a press conference. I suppose time will tell.

Yes, this is the new FOMC format...rate announcement @ 12:30pm est that's then follow by a Chairman press conference @ 2:15pm est.

Mark

marketsurfer · Apr 27, 2011

Quote from wrbtrader:

Yes, this is the new FOMC format...rate announcement @ 12:30pm est that's then follow by a Chairman press conference @ 2:15pm est.

Mark

Are you certain this isn't a one time happening?

olias · Apr 27, 2011

Quote from marketsurfer:

Are you certain this isn't a one time happening?

I think I remember that this is neither a one time happening, nor is the new format for every Fed announcement. I think the chairman will do the press conference 3 or 4 times per year

Joovenile Jatt · Apr 27, 2011

Yet another way to kill volatility in the markets. Look at this cr@p. Have fallen asleep already. Roll on the statement zzzzzzzzzzzz

olias · Apr 27, 2011

yup it's only 4 times a year that they would hold this press conference:

'The Fed said it would also release its policy statement earlier on the days when Bernanke is scheduled to hold a news conference. The statement would be released at 12:30 p.m., instead of 2:15 p.m. At the other four meetings, the Fed's statement will come at the regular time.'

http://www.cleveland.com/business/index.ssf/2011/03/federal_reserve_chairman_ben_b_15.html