Federal Reserve Chair Jerome Powell’s highly anticipated testimony before Congress this week is being closely watched by investors as they await the central bank’s guidance on future monetary policy. The job report, which will also be released this week, is another market-moving event that is triggering volatility fears among traders.
Powell’s report to Congress will take place on March 6, 2023, and many investors are hoping for a positive outlook for the economy. The Dow Jones Industrial Average had hit an all-time high on Friday, as traders look for continued gains in the market. Powell’s testimony, along with the job report, could determine whether the market continues to see growth or becomes more volatile.
The market is currently in a holding pattern, waiting for the Federal Reserve’s next moves. That’s according to many analysts who say that investors need more assurance from Powell’s report before they take any large positions in the market.
As we head into this week, investors are bracing for the possibility of increased volatility as they await Powell’s report and the job report. Some analysts are even calling this week a “make or break” week for the market.
Powell’s testimony will be a hot-button issue for many investors, who are looking for any signs that the Fed may soon start to taper its bond-buying program or raise interest rates. The job report will also be closely watched for any indications of strength or weakness in the economy, as it could have significant implications for the Federal Reserve’s policies.
Overall, this week is likely to be an eventful one, with all eyes on Powell’s testimony and the job report. While investors are hopeful for positive news, there are also concerns about the potential for increased volatility. The market, it seems, is on edge as it awaits the Federal Reserve’s next moves.