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.”

The Trump administration has pressured Powell, whose term as Fed chair expires next year, to step down as chair of the central bank.

JACKSON HOLE, Wyoming — Federal Reserve Chair Jerome H. Powell is set to deliver his final keynote at the central bank’s marquee economic conference here, as officials weigh cutting interest rates in the face of a cooling labor market, stubborn inflation and fierce political pressure from President Donald Trump.