On Tuesday and Wednesday, Federal Reserve chair Janet Yellen is set to testify before the U.S. Senate and House, respectively. Investors will likely be listening with keen ears, hoping for a hint about when the Fed will finally hike interest rates from their crisis-era lows.
In the minutes from their January meeting released on Wednesday, Fed policymakers appeared a bit less eager to hike rates than investors had anticipated.
In somewhat opaque language, the central bank’s policy committee said that “many participants indicated that their assessment of the balance of risks associated with the timing of the beginning of policy normalization had inclined them toward keeping the federal funds rate at its effective lower bound for a longer time.”
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