Given that financial markets fluctuated with every single piece of incoming economic data Fed Reserve data dependency in its current tightening cycle. The coming week will have more than its fair share of data that could add further volatility to the market, especially with the next Fed meeting scheduled for the week after (March 21-22).

A look back: Fed Chairman Jerome Powell went to Capitol this week and testified before the Senate Banking Committee and the House Financial Services Committee.

On the first day of his testimony, the S&P500 1.53% lost. The chairman indicated that the The central bank will continue to raise interest rates while inflation remains high and that rate hikes could accelerate. This primed the market for the inevitable, and by the second day of his testimony, the broader market value even posted a modest gain, despite Powell orchestrating the same message.

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Non-farm payrolls in February disappointed on the upside as the economy added much more than the more than 200,000 jobs most economists were forecasting. However, the unemployment rate rose slightly to 3.6%.

What to expect in the coming week: The Fed’s unrelenting inflationary war will make up next week Data on consumer price inflation the most coveted of the many top-notch economic reports due out this week.

On Tuesday the Labor Statistics Office will release February CPI report at 8:30am EST. The headline consumer price index is expected to rise 0.4% month-on-month, down from 0.5% in the previous month. Core consumer prices are expected to have risen 0.4%, the same pace as in January.

Annual CPI inflation is expected at 6%, slowing from January’s 6.4% rate, and annual core CPI inflation may have fallen to 5.5% from 5.6%.

On Wednesday at 8:30am EST, BLS will release the February Producer Price Inflation Report. Economists expect, on average…