Central‑bank Phrasing as Volatility Trigger

Central bankers’ intentionally ambiguous language (so‑called 'Fedspeak') can itself create global market volatility by providing a focal signal that shifts expectations, even when embedded in hedged, conditional remarks. That makes the rhetoric of monetary officials a systemic risk vector, not merely background commentary. — If central‑bank words can move global prices, then communication policy and accountability around monetary speeches become macro‑prudential issues.