Just three weeks ago, Federal Reserve Chair Jerome Powell spoke to reporters after the central bank had kept its key interest rate unchanged for a fifth straight meeting and said the job market was “solid.

The Trump administration has pressured Powell, whose term as Fed chair expires next year, to step down as chair of the central bank.

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.