Jerome Powell's testimony is rattling markets. Here's what 4 strategists are saying about the Fed's hawkish stance.

• On the first day of testimony to lawmakers, Jerome Powell said the Fed will likely raise rates higher than expected.
• Traders are pricing in higher odds of a 50 basis-point move this month after Powell's comments. 
• Here's what four strategists had to say about Powell's opening-day comments. 

On Tuesday, Jerome Powell began his two-day testimony before Congress, with hawkish comments from the top central banker dragging markets lower and pushing up the odds of a bigger rate hike at this month's policy meeting.