The stock market shot up with the Dow hitting a new record during her testimony as many on Wall Street interpreted her remarks as further indication that an interest rate increase won’t come until June or later.
Whenever it comes, a rate hike will likely have a major impact on everyone. The pros and cons of a rate hike were hotly contested Wednesday in front of the Senate Banking Committee, and it’s likely to happen again tomorrow when Yellen appears before the House.
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