Institution: Tuesday’s inflation data, alongside the testimony from Worsh; the market is closely watching for directional signals

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Golden Finance reports that on July 13, investors will focus on the semiannual testimony that the newly appointed U.S. Federal Reserve Chair Kevin Wash will deliver before Congress on Tuesday and Wednesday, to get his latest views on inflation and interest rates and an update on the progress of his Federal Reserve reform plan. Lawmakers may ask Wash about his broad Federal Reserve reform agenda. The Federal Reserve previously announced the list of appointments for five working groups formed to assess everything from communication approaches to the size of the balance sheet. Ian Ringen, Head of U.S. Rates Strategy at BMO Capital Markets, said investors will watch Wash’s testimony for more details and guidance on how the chair is shaping the overall state of the U.S. economy and Federal Reserve policy. The market is currently in a low-trading, low-confidence state—at least until the inflation data and Wash’s testimony are released on Tuesday. (Jin Ten)
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