Fed Chair Heads to Capitol Hill
Investors awaited hints on the direction of monetary policy from Janet Yellen
Investors awaited hints on the direction of monetary policy from Janet Yellen, chair of the Federal Reserve. Yellen's prepared statement for her testimony to the House Financial Services Committee will be released at 8:30 a.m. ET. Yellen's appearance before the House Financial Services Committee begins at 10 a.m. The purpose of Yellen's congressional testimony twice a year is to update lawmakers on the central bank's strategy for keeping the U.S. economy healthy. Wall Street will be listening for any insight Yellen offers on when inflation may reach the Fed's 2% target and whether the unwinding of the central banks' $4.5 trillion balance sheet will interfere with the pace of interest rate hikes.
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