Why markets may be setting up for a Yellen surprise

August 22, 2016 10:01 PM

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Why markets may be setting up for a Yellen surprise

With little to sway the markets this week amid very light trading, markets are fixated on Yellen's Friday speech in Jackson Hole, Wyoming. The annual Fed symposium is sometimes used by Fed officials to make important policy statements. However, this year's topic is seen as a discussion for the longer term and is called "Designing Resilient Monetary Policy Frameworks for the Future."

Over the weekend, Fed Vice Chair Stanley Fischer joined two other recent hawkish-sounding Fed speakers, who were pushing the idea in speeches last week that the Fed is close to raising rates. Fischer's message was more on the economy, and he said the Fed is close to meeting its objectives, a comment...

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