Janet Yellen, in her first speech as new Fed chair "stayed the course" on the Taper:
- *YELLEN SAYS FOMC LIKELY TO CONTINUE QE TAPER IN MEASURED STEPS
- *YELLEN SAYS RECOVERY IN LABOR MARKET IS `FAR FROM COMPLETE'
- *YELLEN SAY FED TO `CONTINUE TO MONITOR FOR EMERGING RISKS'
- *YELLEN: MAIN RATE LIKELY TO BE LOW WELL PAST 6.5% JOBLESS RATE
Of course, the Q&A (and hawkish follow-up panel) may well be the "common knowledge" setting moment for today but for now, the Taper is on and forward-guidance.