Powell at his press conference on Wednesday is likely to get asked - again - what contingencies he plans for in the event of a U.S. debt default.
Wells Fargo & Co CEO Charlie Scharf said on Tuesday the banking industry is "extremely strong" but added he expects more volatility.
The threat of recession is making debt securities a safer bet, while the stock market is yet to price in those risks.
The US regional banking crisis is far from over and the Federal Reserve should pause its rate hike campaign.