US and global markets focus on Fed Chair Powell's statements

All eyes were on Capitol Hill as Federal Reserve Chairman Jerome Powell was giving a two-day semi-annual monetary policy testimony before Congress. His remarks about the economy, inflation, and the Fed's actions were met with questions from Senate Banking Committee members. These were related to jobs and unemployment, household debt, the debt ceiling, geopolitical uncertainty, climate crisis, and cryptocurrency. Meanwhile, the US has just reported its widely-anticipated monthly jobs report which could further influence the Federal Reserve's monetary policy.