There Are Risks for Markets and Yellen at Jackson Hole

The risk to markets Friday is that Fed Chair Janet Yellen simply sounds more ready than markets expect to raise rates for the second time in 10 years.

That would trigger a sell-off in stocks, snap Treasury yields out of their slumber, pressure gold and pound on the dollar.

But many strategists and economists say more likely is that she will sound dovish, and the reason may be that she will choose to address a more wonky academic question about long-term Fed policy rather than talk about what the markets want to hear.

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.