The Last Word on Fed Policy Goes to Brainard

A series of contrasting speeches have left Fed-watchers looking for a signal
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Markets Seek Rate Clues as Fed Presidents Speak

Heading into the Federal Reserve's September meeting, all eyes are on Lael Brainard. 

The Fed governor is speaking in Chicago on Monday, making hers the last scheduled appearance before U.S. central bankers go into their traditional pre-meeting quiet period ahead of a Sept. 20-21 confab in Washington. Some Fed watchers think Brainard, who's been among the most dovish of Fed members, will send a signal that tightening is coming—a flip-flop that would be sure to move markets. Others see the timing of her speech as consistent with her record because she spoke close to both the March and June meetings, urging a patient stance both times. 

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