President Donald Trump is calling on a Federal Reserve governor to resign over an accusation of mortgage fraud

Trump ratcheted up his pressure campaign this week, calling on Fed Governor Lisa Cook to resign after a Trump administration official alleged that she had committed mortgage fraud. Cook rebuked the push for her to quit, saying she has “no intention of being bullied to step down from my position because of some questions raised in a tweet.”

Today during an economic symposium in Jackson Hole, Federal Reserve Chairman Jerome Powell hinted at possible future interest rate cuts. This comes as the Fed continues to watch for the impacts of tariffs and weighs job market concerns.

Federal Reserve Chair Jerome Powell delivers a high-profile address at the annual Jackson Hole Economic Policy Symposium.

Bitcoin, the world’s largest cryptocurrency, is also up. It’s jumped about 4% over the past day to now around $117,000, per Binance. The total market capitalization of all cryptocurrencies has risen 6% to more than $4.1 trillion, mirroring the broader surge in the stock market. The S&P 500 is up 1.5% since trading began Friday morning.

Fed Chair Powell hints at possible rate cuts in September, signaling a policy shift. Click here to read what investors need to know.

President Donald Trump is calling on a Federal Reserve governor to resign over an accusation of mortgage fraud.

Jerome Powell, the Federal Reserve chair, is managing a high-stakes balancing act as he grapples with a cooling labor market, rising inflation and White House pressure to cut interest rates.