NEW YORK (
) -- Remarks from several
members will dominate Tuesday's session, as traders will have no economic reports scheduled and few quarterly earnings reports to sift through.
Four Fed officials will be speaking Tuesday, almost a week after the central bank signaled no change to its key interest rate. The Federal Open Market Committee, the Fed's policy-making arm, said it would maintain its target fed funds rate between 0% and 0.25%, noting that household spending "appears to be expanding."
Atlanta Fed President Dennis Lockhart will speak first at 9:15 a.m. EST during the Urban Land Institute conference in Atlanta. At 10 a.m. EST, Janet Yellen, president of the San Francisco Fed bank, will speak in Phoenix on the economy and the housing market.
Fed Governor Daniel Tarullo will speak later at 3:30 p.m. EST Tuesday in New York, offering remarks about a Resolution Authority during an international bankers conference. Dallas Fed President Richard Fisher will give his economic outlook at 7:30 p.m. EST during a speech in Austin.
Traders will be watching closely for clues about the Fed's stance on monetary policy and quantitative easing going forward. Already, St. Louis Fed President James Bullard said in an interview with
The Financial Times
that uncertainty over the outlook for inflation "is as high as it has ever been since 1980."
Bullard added that "For 2009, in particular, and maybe a little bit into 2010, you have to worry about getting out of the recession, establishing your recovery, making sure the recovery has really taken hold. And then, at the appropriate time, when things are all going forward, you have to switch gears and watch whether the inflation rate is coming up."
On the earnings front,
JA Solar Holdings
will report quarterly results in the morning.
After Tuesday's closing bell,
are on tap to release earnings results.
The economic docket is bare, leaving the bond market to instead watch a $25 billion 10-year Treasury note auction, scheduled for 1 p.m. EST. The auction comes after three separate ones on Monday for 13-week and 26-week bills as well as 3-year notes, and will be followed Thursday by a $16 billion auction of 30-year bonds.
-- Written by Robert Holmes in New York
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