No rate hike for at least the next couple FOMC meetings is what Fed Chairwoman Janet Yellen said as she presented her semi-annual report to Congress. As investors hang on her every word, the Fed is also set to release its bank stress test next month. Citigroup (C) will be in the spotlight after failing the test last year. But Mark Luschini, the Chief Investment Strategist at Janney Capital Management is bullish on Citigroup along with the rest of the financial sector saying ‘we’re positive on the financial sector because of attractive value and strong fundamentals, despite the pessimism surrounding the sector.’ Luschini also thinks the Fed will be ‘less transparent’ going forward.
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