Question-and-answer session
at the start of the question-and-answer session:
- S&P index -24.36 points or -0.53% 4630
- Dow industrial average -308 points or -0.87% 34828
- NASDAQ index unchanged at 15782
- Russell 2000-24.75 points or -1.1% at 2217.43
- 10 year yield 1.412%
- 2 year yield at 0.445%
- Crude oil $67.50
- Gold $1804.93
Yellen testimony highlights:
- stablecoins can result in some greater efficiencies if adequately regulated
Powell testimony highlights:
- price increases have spread much broadly over recent months
- risk of higher inflation has increased
- higher prices are traced to supply and demand influences
- it's a good time to retire "transitory" for inflation
The USD has moved higher on Powell's transitory reference.
