by Mike ‘Mish’ Shedlock
Fed Chair Janet Yellen is scheduled to make a speech to the World Affairs Council of Philadelphia today at 12:30 ET.
“Markets will be waiting with bated breath to see whether she strikes a more hawkish tone or one of continued cautiousness ahead of the June FOMC meeting,” said economists at Bank of America.
“We will have to listen carefully for her analysis of what definitely is a deterioration of the labor market conditions,” economists at BNP Paribas wrote in a note.
Why listen at all?