FED'S MUSALEM SAYS A CENTRAL BANK THAT KEEPS ITS FRAMEWORK TO ITSELF FORCES MARKET PARTICIPANTS TO GUESS AT ITS REACTION RATHER THAN FOCUS ON DATA, WHICH 'ADDS NOISE' AND RESULTS IN HIGHER AND MORE VOLATILE INTEREST RATES AND FINANCING COSTS, DESCRIBING A 'HALL OF MIRRORS' THAT OCCURS WHEN THE FED ANNOUNCES A FORECAST RATHER THAN A FRAMEWORK.

FED'S MUSALEM SAYS A CENTRAL BANK THAT KEEPS ITS FRAMEWORK TO ITSELF FORCES MARKET PARTICIPANTS TO GUESS AT ITS REACTION RATHER THAN FOCUS ON DATA, WHICH 'ADDS NOISE' AND RESULTS IN HIGHER AND MORE VOLATILE INTEREST RATES AND FINANCING COSTS, DESCRIBING A 'HALL OF MIRRORS' THAT OCCURS WHEN THE FED ANNOUNCES A FORECAST RATHER THAN A FRAMEWORK. — reported by FS at September 29, 2026 · 17:32 UTC. Read the full context on Trading News Terminal.

HIGH-impact news is typically a market-moving event with multi-pip or multi-percent intraday reactions. Examples include central bank rate decisions, major CPI/NFP releases, geopolitical shocks, mega-cap earnings beats/misses, and regulatory announcements. Traders typically position-reduce or hedge ahead of scheduled HIGH-impact events, and follow the wire in real time to react to unscheduled ones (war headlines, central-bank emergency statements, surprise corporate actions). The Trading News Terminal squawk box reads every HIGH-impact headline aloud the moment it hits the wire — so active traders don't have to stare at the feed.

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