Fed Chair Janet Yellen News

Policymakers are confronted with benign inflation and a tight a labor market as they weigh a third rate hike and announcing plans to start reducing the central bank`s $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities. 

Stock markets are expected to react to Fed chair Janet Yellen's speech when it opens for trade on Monday besides taking cues from macroeconomic data and investment trend by overseas investors, say experts.

The rupee advanced by 18 paise to 66.13 against the American currency in late morning trade on selling of dollars by banks and exporters on the back of lower dollar in the overseas market.

U.S. stock markets are in the midst of a "`patient` panic" ahead of Wednesday`s Federal Reserve statement, when many investors expect a change in the Fed`s language that would send the clearest signal yet that a rate hike is coming soon.