Fed chairman Bernanke to hold press conference
In an unusual move, Federal Reserve Chairman Ben Bernanke will hold a press conference to answer questions about decisions made by the central bank. Bernanke will speak with reporters following the conclusion of tomorrow’s policy meeting. Boston University School of Law professor Cornelius Hurley is director of BU’s Center for Finance, Law & Policy (formerly the Morin Center for Banking and Financial Law) and a former assistant general counsel of the Board of Governors of the Federal Reserve System. In an interview with the Boston Herald, Hurley said “the orchestrated but unpredictable media moment will put Bernanke in a difficult spot.”
“Never mind the fastballs and curveballs from the reporters – just the obvious questions will be tough.
“I think at the end of the day Bernanke is in a box. If he says anything meaningful – that is, if the markets react to it – then he’s made a mistake. But if it’s typical Fed pablum, then everyone will wonder, why then did they even have this.”