Reflecting proudly on how her words were received (surprise!) dovishly yesterday during her congressional hearing (and stocks closed green), we are sure Fed Chairmanwoman Janet Yellen will be brimming with "nothing can stop me now" confidence as she heads into the ring with the Senate Budget Committee. The big headline from yesterday's Q&A that "the recent flattening out in housing activity could prove more protracted than currently expected," will we are sure be caveated with excess hope and exuberance today as yet another set of politicians attempt to pin her back down to 6 months. The biggest thing to watch, we suspect, if she reiterates her "sell small caps" recommendation...
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If embed is not working click here for C-SPAN link [4]
Yesterday's prepared remarks (in algo-readable format)
[5]
and full text
Yellen Testimony [6]