Investors scour WSJ articles for Fed clues

Matt Egan of Fox Business Network writes about how investors look at the Wall Street Journal‘s Jon Hilsenrath, who covers the Federal Reserve, for clues as to where the economy is headed.

Egan writes, “To be sure, market participants didn’t appear to be suggesting anything  sinister on the part of Hilsenrath. Instead, the comments indicate the  perception that senior Fed officials may seek to influence market expectations  on monetary policy through timely leaks to the Journal.

“‘My stories are based on a lot of reporting across a wide range of people  inside and outside the Fed,’ Hilsenrath said in an email. ‘My intent is to  accurately inform our readers about what the central bank is up to so they can  make their own judgments, to hold the institution accountable and to break news.  It is not to be a messenger.’

“The focus on a single reporter may not be entirely appropriate as investors  looking to get an inside track on monetary policy similarly paid close attention  to columns by other former Journal reporters, including Greg Ip.

“‘I’m glad people trust The Wall Street Journal enough to pay attention  to our work,’ Hilsenrath said.

Read more here.