Jerome H. Powell, the Federal Reserve chair, is facing relentless attacks from the president, a lively campaign to replace him and divisions in his own ranks over when to cut interest rates.

Jerome H. Powell, the Federal Reserve chair, is facing relentless attacks from the president, a lively campaign to replace him and divisions in his own ranks over when to cut…

Analysts see signs of a shift toward easing—possibly beginning in September—but with no guarantees offered after this week's meeting.