U.S. markets and stock exchange traded funds meandered Tuesday as investors waited on remarks from Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen over hints of the future direction in policy changes.

On Tuesday, the Invesco QQQ Trust (NASDAQ: QQQ) was up 0.3%, SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA) fell 0.2%, and iShares Core S&P 500 ETF (NYSEArca: IVV) was flat.

The equity market has seen a slight reversal of the value trade as growth and tech names rebound from their recent pullback triggered by a spike in Treasury yields and inflation fears.

“We’ve seen a very quick movement in (yields) on mostly fears around inflation and the market is taking a pause here over the last week,” Jon Adams, senior investment strategist at BMO Global Asset Management, told Reuters.

The markets are now waiting on the top two U.S. economic officials, Powell and Yellen, to outline the bumpy recovery that is still facing risks from the coronavirus pandemic and inflation. The possibility of higher inflation has fueled doubts over the Fed’s plans for interest rates and bond purchases to sustain the economic recovery process.

Powell reaffirmed before Congress that the central bank will continue to support the economy through loose monetary policy, the Wall Street Journal reports.

Additionally, the rising Covid-19 cases in Europe and recent extensions to lockdowns in Germany, France, and Italy are adding to concerns of a quick global recovery.

“It feels like the reflation theme is running into a few roadblocks,” Sebastian Mackay, a multiasset fund manager at Invesco, told the WSJ. “We are probably in a cyclical recovery, but we may have gotten ahead of ourselves. This is a pause for thought: how rapid is this recovery actually going to be?”

While many anticipate a significant economic rebound in 2021, some market watchers are still waiting on definitive data to back up these claims.

“I want to see more data confirming the strong recovery, because I do think we’ve gone about as far as we can go without starting to see the evidence,” Tim Courtney, chief investment officer at Exencial Wealth Advisors, told the WSJ. “The fourth quarter earnings were a good strong bit of evidence, but the market is going to want to start to back up these huge price moves we’ve seen with some real earnings and seeing some real growth.”

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