Federal Reserve Chair Jerome Powell will deliver a high-profile speech on Friday at an annual gathering in Jackson Hole, Wyoming, as the central bank weighs its first interest rate cut of 2025.

For months, President Donald Trump has urged the Fed to lower interest rates in an effort to boost economic performance and reduce interest payments on government debt. So far, the Fed has refused, opting to hold interest rates steady as policymakers observe the effects of tariffs.

Trump ratcheted up his pressure campaign this week, calling on Fed Governor Lisa Cook to resign after a Trump administration official alleged that she had committed mortgage fraud. Cook rebuked the push for her to quit, saying she has "no intention of being bullied to step down from my position because of some que

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