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.

July’s weak jobs report could be grounds for a big rate cut come September.

This year’s summit carries additional weight: it will be Powell’s last appearance at Jackson Hole as Fed chair before his term ends in May 2026. It also comes at a time of mounting pressure from both Wall Street and the White House, as President Donald Trump continues to push the central bank to align with his tariff-driven economic agenda.