This year, the Fed’s Jackson Hole symposium, which wrapped up Saturday, was at times a tense affair and drove home how difficult the path ahead is for the US central bank. On Friday, Chair Jerome Powell used his keynote speech to signal the Fed is headed for an interest-rate cut as soon as its next policy meeting in September.

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

The Fed chair delivered a “virtuoso performance” with his Jackson Hole speech, says State Street’s Michael Arone