Powell is going to speak again tonight since it's a 2 day testimony. Based on what he said yesterday, it's apparent that he had hinted again of the economy might go into recession. He acknowledged that rising interest rate could drive the economy into recession but that is not Fed intended outcome. Also mentioned 100bps hike is not off the table. Fed is committed to bringing down inflation. All these means that there will be more pain/decline to come in the months forwards and Fed will not turn around from its aggressive policy of hikes/QT. Guess the market bottom has not come yet. For mid/long term investors, we can wait for a few months until we see the Fed starting to soften it's stance. For short term traders, there will be a lot of opportunities with the current volatile market. Good luck to all.