Fed Sweating the Details of First News Conference
The Wall Street Journal | Apr 26
The Federal Reserve is doing some careful stage planning for its first-ever public news conference Wednesday afternoon following a two-day policy meeting. Details that would be extremely mundane for most other institutions—such as who gets in, how Chairman Ben Bernanke should kick things off, and how questions will be asked—have potentially market-moving importance in this instance. Analysts and traders on Wall Street have been scrambling to find out what to expect. “People are trying to get their arms around the whole thing,” said David Greenlaw, chief U.S. economist with Morgan Stanley. He has quizzed colleagues who follow the European Central Bank, which, like other central banks, has held news conferences for years, to understand how it might unfold.