Financial markets are taking in a collective breath ahead of Jerome Powell's eighth and final keynote Jackson Hole speech as Federal Reserve Chair. If the moves following his last seven are any guide,

Federal Reserve chair Jerome Powell is scheduled to speak at the central bank's annual Jackson Hole Symposium on Friday, an event that could be a major test of the stock market's post-"Liberation Day" rally.

The president's latest attack comes as Powell is scheduled to deliver remarks at the Fed's annual conference in Jackson Hole, WY, on Friday.

Powell has never responded directly to Trump's provocations, and I, personally, expect this issue to play a predominant role at his latest meeting in Jackson Hole, perhaps even more so than the interest rate discussion. The independence of central banks is much more important than a 25 basis point change in the coming month.

Wall Street will be listening closely to Federal Reserve Chair Jerome Powell's speech Friday at the Jackson Hole economic policy summit, where he could signal whether the central bank is ready to cut borrowing costs at its next meeting in September.

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.

By Howard Schneider WASHINGTON (Reuters) -Fed Chair Jerome Powell used the central bank's annual Wyoming research conference to promise inflation-fighting rigor when it was needed in 2022, then last year he came to the defense of the job market with promises of lower interest rates when the unemployment rate seemed on a steady rise.