Just three weeks ago, Federal Reserve Chair Jerome Powell spoke to reporters after the central bank had kept its key interest rate unchanged for a fifth straight meeting and said the job market was “solid.

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

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.