Federal Reserve Chairman Janet Yellen heads to Capitol Hill this week and a lot is riding on her testimony for the stock market. The bottom line is this: can she reassure Wall Street investors and end the selling that’s gripped the market since the start of the year? ‘She’s probably the only positive catalyst on the near term calendar,’ explained Anthony Valeri, Investment Stratgist at LPL Financial, who pointed out that the market isn’t finding any comfort in recent earnings reports or economic news. Valeri said the market wants to hear three things from Yellen, including confirmation of comments made by other Federal Reserve officials who have said current global market volatility is being watched. ‘In that environment it probably makes sense just to wait and see, to hold off on further rate increases. I think that’s the first message the markets would like to see,’ said Valeri. He said the second desired message from Yellen would be a revision to the the Federal Reserve’s forecast for several interest rate increases this year.
| Rhonda Schaffler |
Source:http://www.thestreet.com/video/13453331/three-things-the-stock-market-wants-to-hear-from-janet-yellen.html
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