Federal Reserve Chair Jerome Powell's speech at the annual Jackson Hole Economic Policy Symposium went better than expected.

The Dow was set for its first record close of the year and bond yields fell after Federal Reserve Chair Jerome Powell struck an upbeat tone on a September interest-rate cut.

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.”

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

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

Cook, the first Black woman to serve on the Fed board, said she had "no intention of being bullied to step down" after Trump called for her resignation.

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.

Larry Lindsey, The Lindsey Group president and CEO, joins 'The Exchange' to discuss Lindsey's potential nomination to chair the Federal Reserve, the CEO's thoughts on recent economic data and much more.