And Now... Another Week To Spend Obsessing Over The Fed

Can't get enough of this non-stop talk about the Fed, and all that comes with it (Bernanke's future, the taper, rising interest rates, when the first rate hike will come, etc.)?

Well then you're in luck, because this week is another big week for that.

On Wednesday, Bernanke gives his semi-annual testimony to Congress on monetary policy.

From Nomura:

The Chairman will no doubt continue to stress that any decision to raise short term interest rates is still a long way off, and is essentially independent from decisions about asset purchases. We will look to see if he clarifies the Federal Reserve?s thinking on its policy path and the apparent gap between his comments in the post-meeting press conference and the diverging views reflected in the minutes.

Among the topics that will be interesting to investors: What does he say about rising interest rates?

At his speech last Wednesday he hinted for the first time that the spike in rates was a cause for concern, as it represented a form of tightening of financial conditions that could hinder the recovery. It seems likely that Congressmen will be interested in this topic, as well.