Mar 24
FOMC: No news from Bernanke
Overview: The first session of the semi-annual monetary policy report was delivered by the Fed Chairman to the Senate this afternoon. Generally, there was not much new in the testimony. The Chairman confirmed that the Fed is on an ultra-easing bias and stands ready to do whatever it takes to make the economy recover. The report, which was accompanied by very bad consumer confidence numbers, was taken relatively lightly by the market. US bond yields declined temporarily, but recovered along
