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.

A potential candidate to succeed Federal Reserve Chair Jerome Powell, David Zervos, said that it’s inaccurate to describe the US central bank as independent, and characterized the outgoing Fed chief as aligned with the political left.

Fed Chair Jerome Powell’s Jackson Hole speech comes amid political tensions, slowing job growth, and speculation over possible interest rate cuts. (Scripps News)

The AUD/USD pair extends its losing streak for the fourth trading day on Thursday. The Aussie pair slides to near 0.6415 in the European trading session, the lowest level seen in almost two months.

With Jerome Powell’s term as chair expiring in 2026, President Trump is closing in on Fed control after months of animosity, says Helen Thomas The great central banker jamboree takes place this weekend at Jackson Hole,

The DXY dollar index traded flat as as investors waited for the Fed’s meeting minutes, however the decisive factor will be what Powell says at the Jackson Hole on Friday.

Donald Trump is taking aim at a familiar adversary. The president complained about Jerome Powell in a new post on Tuesday night after weeks of back and forth surrounding the Federal Reserve chair. Trump claimed on Truth Social that Powell is “hurting” the housing industry “very badly”.