Janet Yellen Speech: Congressional Testimony - Day 1 - Live

Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, is scheduled to deliver the first part of her congressional testimony speech at 14 GMT in Washington before the House Financial Services Committee.

In her prepared testimony, which was released in the last hour, Yellen reiterated the view that the economy will continue to expand at a moderate pace over the next couple of years but possible changes in fiscal and other government policies represent a source of uncertainty. Yellen's speech will be followed by a Q&A session.

Key Notes:

Fed's Yellen testimony: Balance sheet reduction will likely begin this year

In her testimony, Yellen noted that provided the economy evolves broadly as anticipated, the Committee will likely begin to implement the program this year. Read more

EUR/USD spikes, then retreats sharply on Yellen headlines

The EUR/USD pair quickly reversed a knee-jerk fall and spiked over 50-pips from lows following the release of the text of the Fed Chair Janet Yellen's upcoming testimony.Read more

About Janet Yellen

Janet L. Yellen took office as Chair of the Board of Governors of the Federal Reserve System on February 3, 2014, for a four-year term ending February 3, 2018. Dr. Yellen also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body.

FOMC Press Conference, June 14, 2017