Hard choices before the quarter ends | Federal Reserve in focus again | Cramer's playbook
The Federal Reserve is front and center again for markets in the week ahead, with Fed Chairman Jerome Powell testifying before Congress and other Fed officials speaking throughout the week. Powell is testifying alongside Treasury Secretary Janet Yellen before House and Senate panels Tuesday and Wednesday on pandemic relief and the economy.
The Federal Reserve is front and center again for markets in the week ahead, with Chairman Jerome Powell testifying before Congress and other central bank officials speaking throughout the week. Powell is testifying alongside Treasury Secretary Janet Yellen before House and Senate panels Tuesday and Wednesday on pandemic relief and the economy.
The Fed's commitment to let inflation run hot to give the labor market time to heal spooked the bond market in the past week. The benchmark 10-year yield, which influences mortgages and other loans, rose sharply to a 14-month high of 1.75%. Yields move opposite price, and the sell-off in bonds kept a lid on stock market gains in the past week.
The inflation debate is likely to continue. The Fed's preferred inflation measure will be released Friday morning. "For the bond market, and the Fed, there is a communications problem and there's a consensus problem. There can't not be tension," said one economist.
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