(Dow Jones)–Bond markets move little as Chair Powell answers questions in the House, many of them about banking stability rather than monetary policy. His remarks have been in line with the hawkish tone set last week, when the FOMC pointed to a couple more hikes this year. AmeriVet’s Gregory Faranello says that, when it comes to policy, speed is no longer an issue as much as finding the right level. The FOMC “generally believes higher rates will be necessary,” Faranello says, and that’s the point Powell tries to drive home.

The 10-year Treasury yield is at 3.779 and the two-year at 4.748%, broadly unchanged from before the testimony.

By: Paulo Trevisani (paulo.trevisani@wsj.com;@ptrevisani)