Analysts ahead of Bernanke’s testimony
The Fed’s Chairman Ben Bernanke testifies to Congress at 14:00 GMT today.
Gaitame.com Research Institute: “Bernanke isn’t hawkish, so I think he’s more likely to continue monetary easing. The market will probably respond with dollar-selling to Bernanke’s remarks.”
Bank of New York Mellon: “On balance, the Federal Reserve is likely to err on the side of caution. They would rather be late in removing accommodation.”
Miller Tabak & Co.: “Given words from other Fed members ahead of Bernanke’s testimony, we’re not expecting Bernanke to signal taking a step back from bond-buying anytime soon, so that could be a short-term negative for the dollar. I would expect him to be upbeat about the economic assessment but cautious about headwinds, which is what he's been previously.”
BK Asset Management: “Bernanke's views will give us a good sense of whether the market's expectations for tapering QE are overblown.”