Why Is The Fed In The Shpilkes Business?

Later this morning the Federal Reserve releases the Minutes of its last meeting, about a month ago.  Big change in tradition for the Fed which several years ago kept the Minutes secret.

Immediately after the release the market will react one way or the other and then probably reverse after a few minutes.  Because nobody will know what the Minutes really mean.

The Fed meets every so often to set interest rates, releasing enigmatic language afterwards subject to infinite interpretations.  Then individual Fed members fan out across the world, making speeches, giving their own views and sometimes even more dense wordings.

All of this adds up to a free day for market mavens to tell us what they think the Fed will do and that leads to a nervous condition for investors.  

Congress meets in public.  Supreme Court hearings are open to the public.  The President's every move is watched.

But the Fed meets in private and then gives us FedSpeak.

Which leads us to Shpilkes.  From the Wordnik online reference:  A state of impatience or agitation