Federal Reserve Chair Jerome Powell is set to give what could be his most consequential speech yet — just a few days after one of his colleagues was threatened with prosecution for alleged mortgage fraud.

A potential candidate to succeed Federal Reserve Chair Jerome Powell, David Zervos, said that it’s inaccurate to describe the US central bank as independent, and characterized the outgoing Fed chief as aligned with the political left.

The markets expect a rate cut in September and all eyes will be on Fed Chair Jay Powell Friday at Jackson Hole. Click here to read what investors need to know.

Powell is slated to give his annual address in Jackson Hole, Wyoming, on Friday. Swaps are pricing in a high probability the Fed will cut borrowing costs by a quarter point next month. In the face of mounting pressure from President Donald Trump for hefty reductions,

Central bankers gathering in Jackson Hole, Wyoming this week for the Federal Reserve’s annual conference are prepared to go beyond swapping research papers and savoring mountain views — they’re coming to defend Jerome Powell.

"Could somebody please inform Jerome "Too Late" Powell that he is hurting the Housing Industry, very badly? People can't get a Mortgage because of him. There is no Inflation, and