Walsh: Hopes the market will price based on real economic conditions, rather than following the Fed's interpretation

Odaily Planet Daily News: Federal Reserve Chairman Walsh said on Wednesday that he hopes financial markets will price securities based on their own judgments of the economy, rather than trying to price based on expectations of how central bank officials will interpret data. He stated: "The more the market focuses on changes in the real economy, and the more it can judge for itself which data is more important and which is relatively less important, the better it can form its own pricing for the most likely outcome." He added that this can avoid a situation where "financial markets are merely reflecting what we have said." (Jinshi)