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.”

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

U.S. Federal Reserve Chair Jerome Powell made alluded to some promising promises in his latest speech. Powell appeared Friday to open the door to the central bank’s first rate cut of President Donald Trump’s second term as the Federal Reserve chair indicated that current monetary policy may be restricting economic activity.

It's been a long wait but Federal Reserve chair Jerome Powell energized stocks today as he cracked open the door to a possible interest rate cut at the Central Bank's September meeting. In his keynote address at the Fed's annual economic symposium in Jackson Hole,

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.

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

President Trump floated the idea of firing Jerome Powell — whom he first appointed Federal Reserve chair — earlier this week, after years of on-and-off criticism over interest rates.

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.