Feb. 28 - Reuters Correspondent Mark Felsenthal says Fed Chairman Ben Bernanke needs to temper expectations of growth when he gives his semi-annual testimony on monetary policy before a House panel.
Here is you're US stay ahead don't expect the Fed to give up its global economy when it's chairman Bernanke's speaks on the hill. He's still at his semiannual testimony on monetary policy before a house panel at 10 AM. Recently the Central Bank has come under fire from lawmakers over its proposals and housing sector. Reuters correspondent mark thousand houses Bernanke is gonna have to do a lot of juggling. I think he needs to temper their expectations that were taking off -- robust recovery even though some of the data has surprised that the upside recently I think he has to say. Look we're starting at a very low point unemployment still very high. We need to a wait and see if this is really sustainable before declaring victory here. Separately will also hear from two other fed officials on Wednesday at 1025. Dallas president Richard Fisher speaks somewhat the US can learn from Mexico on financial reform at the end Philadelphia president Charles Plosser gives the speech on economic forecast. An update on the health of the recovery with the second read a fourth quarter GDP at 8:30 AM. According to I have are we could see it's lights out and growth to two point 7%. To -- worse than expected inventories out weighing an improvement in final sales. Also on the radar Chicago PMI at 945 and the Fed's Beige Book at 2 PM. Especially retail and manufacturing yours set to dominate results. Before they opened the market could get directions from the likes of costs so ITT and staples. No major surprises are expected. We could hear how FaceBook is -- further monetize its 750 million users at a splashy events on Madison avenue in New York. The social network titan is reportedly launching new products aimed at mobile advertising. COO Sheryl Sandberg is due to speak as our other exacts -- social media editor and tectonic host Anthony Derosa says Facebook's ready to exploit new territory and. So up until this point FaceBook hasn't done anything in the mobile market in terms of advertising. And in their S one filing we saw that there's a huge marketplace for mobile for FaceBook to get into -- -- investors are looking for growth. The mobile marketplace is where they're gonna find him. And in other tech news Microsoft will unveil the first public test version of its new operating system code named windows eight. He'll be the first Microsoft system that is fully compatible with tablets analysts are expecting that companies released the finished product before the end of the year. I'm Rhonda schaffler this is writers.