Fed Chair Janet Yellen faces the new Republican Congress for the first time this week and the hot seat could be a bit more fiery than usual.
As Yellen gives testimony on Tuesday and Wednesday, the first point of interest will be whether Yellen provides any more guidance on the possibility of a March rate hike. Markets have so far written off the chance, pricing in just an 18 percent probability of a quarter-point move, according to Thomson Reuters.
But many economists say that’s too low, given that Yellen is likely to signal that the Fed is close to meeting its inflation and employment goals set by Congress.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.