|09:00||Harker (FOMC voter)||On the economic outlook|
|13:00||Williams (FOMC non-voter)||Closing remarks at Bay Area Council meeting|
The turn-of-the-year torrent of Fed communications continues this week, headlined by speeches from Chair Yellen on Wednesday afternoon and Thursday evening. A recurring theme in Fed speeches thus far in January is that the FOMC will probably need to pick up the pace of tightening now that the economy has reached “full employment”. That’s a concept that we interpret more flexibly than most FOMC members do at present.