Will the Fed Chair address the economy?
The highlight on the economic calendar today is a speech from Federal Reserve Chairman Janet Yellen at Harvard.
What we know is that Janet Yellen is receiving an award. It's called the 'Radcliffe Medal' and is presented annually to 'an individual who has had a transformative impact on society.'
A speech is scheduled from former Fed Chairman Ben Bernanke at 1630 GMT (12:30 pm ET). Yellen won't deliver prepared remarks but is slated to appear at 1715 GMT (1:15 pm ET). She will answer questions from a Harvard professor. The program says:
"Gregory Mankiw, the Robert M. Beren Professor of Economics at Harvard University, will engage Yellen in conversation about her groundbreaking achievements."
That sounds like it will steer far clear of anything related to the outlook for the Fed funds rate in June or July.
Yellen is notorious for sticking to script and even is she's asked point blank about interest rates, she will avoid comment. This event looks like a dud and it's irritating for Wall Street traders who are eager to get away for the long weekend.
The overall event starts at 10:30 am ET with a live webcast touted here: https://www.radcliffe.harvard.edu/event/radcliffe-day-2016
The better chance to get a comment from Yellen will be on June 6, when she's scheduled to deliver a speech in Philadelphia.
