Charting the Markets: Yellen Speaks While ECB Day NearsBy
Global stocks are little changed before Federal Reserve Chair Janet Yellen delivers a speech to The Economic Club of Washington. On Thursday she testifies before Congress' Joint Economic Committee. It's expected she'll signal a December interest rate hike is likely, while stressing the pace of increases thereafter will be gradual. U.S. data on Wednesday showed manufacturing activity unexpectedly contracted in November, throwing up questions about the durability of the world's largest economy. There's a 72 percent chance the Fed will raise rates in two weeks, according to Bloomberg data.
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