Federal Reserve Chair Powell must tread a fine line as he readies a message on interest rate cuts at the central bank's conference in Jackson Hole, WY

The U.S. dollar drifted on Thursday as investors awaited policy cues from the Federal Reserve’s Jackson Hole symposium while keeping an eye on renewed concerns over central bank independence after President Donald Trump’s latest salvo.

This year’s summit carries additional weight: it will be Powell’s last appearance at Jackson Hole as Fed chair before his term ends in May 2026. It also comes at a time of mounting pressure from both Wall Street and the White House, as President Donald Trump continues to push the central bank to align with his tariff-driven economic agenda.

The stock market is heading into a catalyst-filled week as Fed Chair Jerome Powell gets ready to speak at Jackson Hole and big retailers report earnings.

The U.S. dollar was little changed on Wednesday as traders awaited a speech from Federal Reserve Chair Jerome Powell at the annual Jackson Hole central bankers' symposium later this week for clues on the path of monetary policy.

Jay Powell’s speech at the Federal Reserve’s August summit in Jackson Hole, Wyoming, is always a high-stakes moment. This year, the central bank’s chair takes the podium under fire — facing fierce attacks from Donald Trump and a growing insurgency within his own institution.