Fedspeak is a term the Central Bank in the US invented, and it refers to describing simple things in complex ways to keep truths hidden. When Jerome Powell says anything on TV, it's all Fedspeak.
When they explained to us how inflation would be transitory and would go away, that was Fedspeak.
When they told us large interest rate hikes wouldn't be needed to curb inflation caused by money printing, it was Fedspeak.
Alan Greenspan is the one who popularized this term. The Fed does it because the market reacts when they say certain things. In a free market, this shouldn't be an issue. They're hiding the truth from the free market so the free market can't react, and that's a crime.
This "coded and careful" language started to anger the public once they learned about it, so Powell said he would stop using Fedspeak. Instead, he will use smaller words. What did that solve? Nothing. He just lied to the American public but used smaller words. The Fed is blaming other countries with Fedspeak instead of telling us the truth. They are inflating the money supply, stealing our wealth, and taxing us.
Try to read Alan Greenspan's Fedspeak from 1996 without getting an aneurysm:
"Risk takers have been encouraged by a perceived increase in economic stability to reach out to more distant time horizons. But long periods of relative stability often engender unrealistic expectations of it[s] permanence and, at times, may lead to financial excess and economic stress."