This week, the House and Senate will hear Powels’ testimony, which is the second most important event. In the past, such testimonies have caused upheaval and surprise, particularly if Powels tries to push the market towards 50 basis points at the March Fed decision in two weeks. Although unlikely, it is a possibility. The third important event this week is the release of the jobs report, which demonstrates its significance. The previous jobs report in January showed a rise of 515,000 jobs, and as a result, the market fell 6% over the following weeks. Therefore, if the upcoming report also has negative results, it may lead to the market falling again. These are the three key events to watch this week.
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