Federal Reserve Chairman Ben Bernanke begins day two of his semi-annual Humphrey Hawkins congressional testimony with an appearance before the Senate Banking Committee at 10:30 AM ET.
Yesterday’s Q&A with the House Financial Services Committee, which ran for more than two hours, didn’t move markets much, as most of the discussion focused on fiscal and regulatory policy as opposed to monetary policy issues.
However, the release of Bernanke’s prepared remarks yesterday ahead of the testimony sent stocks and bonds higher, as markets interpreted his comments as “dovish.”
Market participants will be watching today’s Q&A with the Senate for any further discussion of the Federal Reserve’s current monetary policy stance.
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