Yellen Testimony Guide From Payrolls Report to Emerging Markets

Here’s what to look for when Janet Yellen testifies before the House Financial Services Committee today in her first public remarks since becoming Federal Reserve chairman on Feb. 3. Yellen’s prepared remarks will be released at 8:30 a.m., and the hearing will begin at 10 a.m. Yellen plans to speak to the Senate Banking Committee on Feb. 13 in a second day of semi-annual testimony.

-- No Panic Over Payrolls: Yellen probably will indicate she plans to press on with a strategy to trim bond buying by $10 billion at coming policy meetings even after a weaker-than-forecast report for payroll growth in January, according to Joseph Lavorgna, chief U.S. economist at Deutsche Bank Securities Inc. and a former New York Fed economist. Employers added 113,000 jobs last month, below economists’ anticipated 180,000 gain, Labor Department figures showed last week.