Fed chairman to update Congress

July 21, 2009 4:25:49 AM PDT
The head of the Federal Reserve Board is set to give lawmakers an update on the economy today. Fed Chairman Ben Bernanke's appearance comes a day after the index of leading economic indicators, a gauge of future economic activity, rose for the third straight month.

The Fed chairman was cautiously optimistic about the economy a couple of months ago, indicating it was stabilizing.

Lawmakers will want to know whether this latest positive report hastens the timetable for the recovery.

Investors will be listening for hints about when the Fed might start backing off the emergency steps it took to bolster the economy.

Today's House committee apppearance will be the first of two days of congressional testimony for the Fed chairman.

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