Washington —

Federal Reserve Chair Jerome Powell is set to give what could be his most consequential speech yet — just a few days after one of his colleagues was threatened with prosecution for alleged mortgage fraud.

Every year, the Fed chair gives a highly anticipated speech at an annual economic symposium hosted for the world’s central bankers by the Federal Reserve Bank of Kansas City in Jackson Hole, Wyoming. It serves to give investors a heads up on what monetary policy may look like in the months ahead.

But this year’s speech is on a radically different backdrop. For months, the Fed has been under an unprecedented full-scale assault by President Donald Trump, who has not only lobbed a series of personal insults at Powell and spoken of firing him, but who is now attempting to u

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