WASHINGTON (AP) — Markets have been uneven as investors look for hints about coming Federal Reserve policy and lawmakers are expected to press Fed Chairman Ben Bernanke on such matters when he testifies today on Capitol Hill.
Of particular interest is when the Fed might begin to scale back its low interest rate and bond-buying policies that have helped support economic growth.
The Fed chairman will also be pressed on the state of the economy and his future at the Fed after his second four-year term as chairman ends in January. And he may even criticize Congress for federal spending cuts and tax increases that have weighed on the economy this year.
But investors will focus on Bernanke’s comments about the Fed’s potential timetable for slowing its bond buying.
Bernanke goes before the House Financial Services Committee today and the Senate Banking Committee tomorrow.