Janet Yellen speaks at 2300 GMT (6 pm ET)
We learned yesterday that the Fed Chair won't stick around until 2024, when her term as Governor runs out. Janet Yellen will retire once her replacement takes over on Feb 3.
Today's appearance likely won't come with any kind of prepared remarks, so the comments will trickle out as they're made. The event is part of a larger series of conversations with former BOE Governor Mervyn King and is taking place at New York University.
There is some chatter the debate will be about inflation targeting, so it might be theoretical and not market moving.
That said, Yellen is comfortable speaking about policy and is likely to repeat some version of the mantra that rates are likely to rise gradually so long as the economy develops as expected.
Lately, she hasn't had anything new to say on monetary policy and I don't expect that to change but she may grow more optimistic on the economy. The numbers have been good lately and she still has a rate hike to signal.
Still, higher rates in December are 97% priced in and he won't want to signal anything that extends beyond her term. Right now the market sees a 55% chance of another hike in March.
