Federal Reserve Chair Janet Yellen spoke before Congress Tuesday morning expressing confidence in the U.S. economy, noting that the first-quarter weakness appeared temporary. Yellen believes the economy is making progress on employment, but called the unemployment rates for minority groups across the nation "troubling." She reiterated her statement from the Fed's meeting last week, saying domestic growth continues to be uneven and that there remains to be "considerable uncertainty about the economic outlook."
Forward guidance. pic.twitter.com/cQ0oas9sQ9¿ Pedro da Costa (@pdacosta) June 21, 2016
Yellen's statement comes ahead of this week's referendum for U.K. voters in which they will decide whether to stay in the European Union. While she said "a U.K. vote to exit the European Union could have significant economic repercusssions," FiveThirtyEight.com's Ben Casselman preferred Jose Canseco's take on the looming Brexit vote.
Jack Daniel's took a trip to the New York Stock Exchange in celebration of the distillery's 150th anniversary. On CNBC's Squawk on the Street Tuesday, TheStreet's Jim Cramer said Brown-Forman (BF.A, BF.B), the parent company of Jack Daniel's, is a "great company." Traders drink responsibly, please.
-- Written by Anders Keitz