Wall Street will be listening closely to Federal Reserve Chair Jerome Powell's speech Friday at the Jackson Hole economic policy summit, where he could signal whether the central bank is ready to cut borrowing costs at its next meeting in September.

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.

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,

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.

Trump has targeted the Federal Reserve and its chairman, Jerome Powell, as he pressures the central bank to slash interest rates.

Los banqueros centrales reunidos esta semana en Jackson Hole, Wyoming, para la conferencia anual de la Reserva Federal están dispuestos a ir más allá de intercambiar documentos de investigación y disfrutar de las vistas de las montañas: han venido a defender a Jerome Powell.