US Stocks, Bonds Hold Steady Ahead of Fed Chief’s Testimony
FED SPEAK: Powell is making his first public comments as head of the Federal Reserve,
and markets are intent to find any clues about whether the central bank will pick up the pace in raising interest rates.
In his prepared testimony, Powell said the outlook for the U. S. economy remains strong and
that recent moves by Congress to stimulate spending should help inflation move up this year.
The market got spooked last month when potential signs of inflation strengthened, which raised expectations
that the Fed may become more aggressive and knocked stock prices down by 10 percent around the world.
The Fed increased rates three times this year, and investors are debating whether this year could see three or four more moves.
Investors are waiting to hear from Federal Reserve Chairman Jerome Powell, who is scheduled to give testimony before Congress on monetary policy.
NEW YORK — Stocks and bonds held relatively steady in early trading on Tuesday,
and the Standard & Poor’s 500 index was wavering between small gains and losses.