Yellen Facing Another Grilling From Congress

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.

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