Market nervous over Brainard speech

The financial market participants are cautious on today’s speech by Lael Brainard, a member of the Federal Reserve board of Governors. Some newswire and analysts go ahead in calling it this year’s most closely watched speech from a Federal Reserve Governor, other than Chair Janet Yellen’s. She is scheduled to speak at the Chicago Council on Global Affairs on the economic outlook and monetary policy at 13:15 ET or around 17:00 GMT. She is popularly known for her dovish remarks and caution towards interest rate increase.

Her speech was not formally scheduled until last Thursday, which has led to the speculation that she might change her usual tone as it would be Federal Reserve’s last chance to prepare the market for a rate hike next week at the FOMC meeting.

With so much speculation, it is best to prepare for some high volatility surrounding the speech.