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On Wednesday morning, at 10 AM EDT, Federal Reserve Chairman Ben Bernanke will testify on the outlook of the U.S. economy before a Joint Economic Committee of Congress.
Along with the subsequent release of the minutes from the FOMC's April 30-May 1 monetary policy meeting, due out at 2 PM, the Bernanke testimony is the main event on the calendar for markets this week.
Because the stock market rally that began in November has yet to see any sort of meaningful downward correction, it has lent to the sense that the market just keeps going up, undeterred by weak economic data and the like.
As such, the stock market will likely be a topic of interest for the JEC, and it may wish to put the question to Bernanke: are stocks in a bubble?
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