Investors expect Powell to give clues on when the Federal Reserve will start lowering rates. Market is divided on the possibility of a cut at the central bank's March meeting.

The focus will be on how Powell interprets the latest economic data. All forecasts point to a cooling of the US economy in the year that has just begun. Inflation remains above the price stability objective of 2%, but if the data for the last three or six months are annualized, the goal would have already been reached.