My guess is it won't be very exciting because he already told us three weeks ago what he thinks. He's certainly not going to say anything that suggests the Fed might be thinking about not cutting rates as soon as the market thinks but I don't think he'll want to give the impression that they're going to slash rates even more aggressively.
More Quotes from Ian Shepherdson:
At least economic activity is no longer 'decelerating,' as reported in the previous beige book,Ian Shepherdson
Not pretty, and getting worse.
Ian Shepherdson
At this level the index is consistent with spending growth of about 3.5 percent, in line with recent economic data. But watch out for a dip next month in the wake of the renewed spike in gas prices. Overall, though, quite robust.
Ian Shepherdson
The report suggests that industrial orders are trending higher as manufacturing recovers from the Asia crisis. There are no real signs of a slowdown.
Ian Shepherdson
As far as we can tell, just about everyone now expects another 25-basis-point hike on May 16, which rather begs the question why the Fed did not act more boldly today and raise rates by 50 basis points, ... By the time of the May meeting, a bigger move might be forced upon the FOMC.
Ian Shepherdson
The Chicago PMI has been very volatile over the past couple of years, probably as a result of the tribulations of the auto industry. As a result it has become a less reliable indicator of movements in the national ISM and the January dip does not necessarily mean the ISM will follow suit.
Ian Shepherdson
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