Markets Watch Walsh's First Testimony

Bloomberg's Michael McKee says Federal Reserve Chair Kevin Walsh is likely to use his first Humphrey-Hawkins testimony to emphasize price stability while avoiding firm guidance on future policy moves as lawmakers press him on inflation, the balance sheet and his newly created policy task forces.

McKee says investors will also focus on fresh inflation data and whether rising energy prices alter expectations that the Fed holds rates steady or resumes tightening later this year. (Source: Bloomberg)