The market is set to meet the Federal Reserve.. A hot week for burning markets. Powell will speak

Federal Reserve Chairman Jerome Powell is scheduled to deliver a speech at the Economic Club in Chicago on Wednesday.

Powell previously warned on April 4 that Trump's tariffs are "larger than expected" and could lead to a rise in inflation and a slowdown in growth.

However, he pointed out at that time that it is still too early to determine what the correct response to the tariffs is. Investors are looking to the Federal Reserve to provide some reassurance that it is ready to intervene to calm sentiment in case the tariffs lead to further rounds of intense pressure in the market, while Trump himself urged the central bank to cut interest rates.

Crucially, analysts noted that Powell's upcoming statement will be the first since Trump revealed a 90-day partial delay for his sweeping tariffs last week after a massive bout of turmoil in the stock and bond markets.