Jerome Powell – who Trump has urged to resign – will address the economic outlook at a symposium in Wyoming
For months, the Federal Reserve chair, Jerome Powell, has ignored demands from Donald Trump to cut interest rates and defied the US president’s calls to resign.
On Friday, as Trump ramps up his extraordinary attack on the central bank’s independence, Powell will set out where he thinks the world’s largest economy is headed in a closely scrutinized speech at the Jackson Hole symposium in Wyoming.
As Trump’s erratic trade strategy continues to enshroud the US economy in a fog of uncertainty, investors, economists and officials hope Powell will provide hints of the Fed’s plans for the months ahead.
At five consecutive meetings, the Fed has left rates unchanged, despite the president’s calls for rapid cuts. Before moving, most policymakers wanted more clarity on the economic impact of his policies, including sweeping tariffs on imports, and deportations.
