Did Friday's stronger-than-expected jobs report wreck the chance of a rate cut?

Federal Reserve Chair Jerome Powell is set to speak before finance committees at both the House and Senate beginning today. Investors will be closely watching for any clues that point to what the Fed will decide at the end of July.

TheStreet founder and Action Alerts PLUS portfolio manager Jim Cramer broke down what to expect from Powell's two-day testimony.
"I think that they need to see a, um, Janet Yellen like, which is that, you know, we got some strong numbers, uh, but we're going to take an aggregate view. The rear view is jobless. Uh, but that number is strong. We're going to be independent of the President. Our job is not to make the dow go to 10,000...ultimately, I think if you're data dependent, then you're fine," Cramer said.

Cramer added, "We don't want these fed watchers to control the dialogue."

Catch Cramer's full take in the video above.

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Watch Jim Cramer's Daily NYSE Show and Replays Below

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