The envelope, please! When it comes to all the Fed-speak, who should you listen to? How much do they move markets and, most importantly, in which direction?
Former Federal Reserve Governor Larry Meyer annually publishes his report "Who Moves Markets" that you could call the cliff note version for the tomes of speeches and testimony issued members of the Federal Reserve's rate-setting Open Market Committee. The criteria: how much they moved the two-year note within 2 hours and 15 minutes of the speech.
Now, the awards for 2009.
Like Michael Jordan winning an MVP award, Meyer's award for the official who moved markets most went to Fed Chairman Ben Bernanke. He gives more speeches and signals policy changes more meaningfully than anyone else.