The S&P, Bonds and oil prices are all up marginally after Fed Chair Janet Yellen testified on Capitol Hill about the Fed’s monetary policy and the current state of the US economy. A few highlights include:
- Inflation remains below the target range
- Although consumer spending is up and employment looks better, growth remains sluggish
- There is still room for economic improvement
In economic news, the Case Shiller 20-city Home Price Index rose by 4.5% from December 2013 to December 2014, above the 4.3% expected. The month over month median price rose by 0.9%, the largest since last spring.