Editorial companion

What stands out

Federal Reserve (Fed) Chair Kevin Walsh's first Humphrey-Hawkins testimony arrives this week, and Bloomberg's Michael McKee expects Walsh to stress price stability while skirting firm guidance on future moves. Lawmakers will press him on inflation, the balance sheet and newly created policy task forces, turning the hearing into more than a routine check-in. Investors will zero in on fresh Consumer Price Index (CPI) prints and rising energy prices, the two variables most likely to nudge market expectations between a steady Fed and renewed tightening later this year.