Lates News

Investors will be watching new Federal Reserve Chairman Kevin Wash's semiannual testimony to Congress on Tuesday and Wednesday for his latest views on inflation and interest rates, as well as updates on his reform plans for the Fed. Wash may be questioned by lawmakers on his broad agenda for reforming the Fed. The Fed previously announced the appointment of Wash to lead five task forces evaluating everything from communication methods to balance sheet size. Ian Lyngen, head of U.S. rate strategy at BMO Capital Markets, said investors will be focused on Wash's testimony for more details and guidance on how the chairman is shaping the overall economic landscape and Fed policy. The market is currently in a state of low trading and low confidence, at least until the release of inflation data and Wash's testimony on Tuesday.