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Janet Yellen To Discuss "The New Normal For Monetary Policy"

In a few minutes, Janet Yellen will address a lunch session in her native SF Fed (the same place which earlier this week finally figured out what debt is) during a conference whose topic is The New Normal for Monetary Policy (the typo from "Paranormal" is easy to make).

The full formal agenda is shown below.

 

The informal agenda will be Yellen's explanation of how she plans on achieving the yield curve which we predicted back in 2010 is just a matter of time.

 

And while it is unlikely Yellen will say much if anything actionable, the speech taking place 15 minutes before market close on a Friday has many wondering: why now, and how will the algos react to the headlines from her speech, if not so much in the Emini where lately it has been all Citadel and the Bank of Japan, then more in the EURUSD and USDJPY.

We will post the full speech once it is released in a few minutes.