Market Insider

One thing Yellen could say that would worry markets

Awaiting Yellen's weather report

If Janet Yellen stops using weather as an excuse for a soggy economy, watch out.

Yellen testifies before the Senate Banking Committee on Thursday at 10 a.m. EST, in her second economic testimony before Congress this month. Her first was before the House Finance Committee on Feb. 11, and she said at the time that it's unclear why the employment reports were so weak, but weather could certainly be a factor.

She also made it clear the Fed would continue on a course to taper back its $65 billion-a-month bond-buying program, unless there was a notable change in the economy, so traders expect another cut of $10 billion when the Fed meets in March.

By then, the Fed will have plenty more data to review, including February jobs, but that report could be hit by weather as well.