"Once upon a time, the Federal Reserve Chairman’s Semiannual testimony in fulfillment of the Full Employment and Balanced Growth Act (aka “Humphrey Hawkins”) was a marquee event for markets," says Vincent Reinhart, Morgan Stanley's Chief U.S. Economist and a former Federal Reserve insider.
Day two of Federal Reserve Chairman Ben Bernanke's semi-annual Congressional testimony on monetary policy is about to begin. Today, Bernanke goes before the House Financial Services Committee. The event begins at 10 AM ET.