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Fed’s Yellen Faces Senators, Likely to Stay on Message
If Federal Reserve Chairwoman Janet Yellen makes news during Senate testimony on Thursday, the blame should fall squarely on the weather. That’s because the second leg of her two-part semi-annual monetary policy testimony, which was originally scheduled for Feb. 13, was delayed by a snow storm in Washington and then a congressional recess. Since then, U.S. economic data that had already been weakening have shown further signs of strain, although many analysts still believe bad-weather effects might explain a good part of the slowdown. The softness has been broad-based, with retail sales falling 0.4% and industrial ... (full story)
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