The market is set for the Federal Reserve.. A hot week for heated 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 "greater than expected" and could lead to rising inflation and slowing growth.

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

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