Charles Payne is a Fox Business Network contributor and CEO of Wall Street Strategies, an independent stock market research firm.
Payne is also a contributor to
Payne attended Minot State College and Central Texas College during his time in the United States Air Force.
By WSS Research Team
By Carlos Guillen
After some instability earlier in the trading session, equity markets are on track once again to reach new record highs. Despite a second day of lacking economic drivers, investors have not been dissuaded from jumping into stocks, and today comments from a Fed official have tipped the scale in favor of equities.
Federal Reserve Bank of St. Louis President James Bullard said earlier today that the central bank should continue its bond buying because it's the best available option for policy makers to boost growth that is slower than expected. This has once again served to give investors further confidence that the Fed will very likely continue with its easy monetary policy trajectory. According to Bullard, quantitative easing maneuvers have been improving financial conditions and can be adjusted as needed, and as such should remain active.
Later in today's trading session, New York Fed President William Dudley will also offer his views and insights into the outlook for the Fed's asset-purchase program. And more importantly tomorrow, Fed Chairman Ben Bernanke will testify before Congress, and the minutes of the most recent meeting of the Fed's monetary-policy committee will be released.
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