In late July, Federal Reserve Chair Jerome Powell kept the central bank's options wide open for its next meeting, and said the Fed would "watch and learn" about th

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.

The Federal Reserve’s annual conference, hosted by the Kansas City Fed in Jackson Hole, Wyoming, began Thursday evening with a dinner for the central bankers, economists and journalists who have flown in from around the world.

The president’s second term has been marked by his eagerness to go after his foes and his assertions of presidential authority. Both traits are on display as he seeks control over the central bank.

The market is watching for signs from Federal Reserve Chair Jerome Powell's Friday speech about whether the central bank will lower interest rates at its September meeting. President Trump has been vocal in his opinion that the Fed is overdue to cut rates and in his criticism of Powell himself.

Federal Reserve Bank of Chicago President Austan Goolsbee said while some recent inflation readings have come in better than expected, he hopes one “dangerous” data point is just a blip.

Almost all” officials backed July’s interest-rate decision, even though two governors backed a rate cut, according to a meeting summary.

The president’s calls for Lisa Cook, a Fed governor, to resign are diverting attention from economic issues as top central bankers from around the world gather in Jackson, Wyo.

CNBC’s Steve Liesman and Kansas City Fed President Jeffrey Schmid join 'Squawk Box' to discuss Fed Governor Lisa Cook's mortgage allegations, the political pressure facing the Fed, strength of the labor market,