Federal Reserve Chair Jerome Powell is set to give what could be his most consequential speech yet — just a few days after one of his colleagues was threatened with prosecution for alleged mortgage fraud.

S&P 500 and Nasdaq futures are falling in premarket trading. The Dow is flat ahead of Fed Chair Jerome Powell's Speech at Jackson Hole.

Most economists think the Federal Reserve will cut rates in September. "We do think it is highly likely that the Fed will cut rates by 25 basis points in September; we don't expect any strong signals from the chair on Friday,

Asia shares trade mixed on Friday, tracking an overnight decline on Wall Street amid ongoing tech stock sell-offs and anticipation of Powell's remarks. Meanwhile, Japanese shares had a mixed day. This came after new data showed consumer inflation in Japan remained well above the Bank of Japan's annual target.

The Justice Department signaled possible plans to investigate Federal Reserve Governor Lisa Cook, with a top official informing Federal Reserve Chair Jerome Powell of the probe and encouraging him to remove her from the board in a letter sent Thursday.

President Trump went on Truth Social ($DJT) on Tuesday to accuse Jerome Powell of making it impossible for Americans to buy homes. He called him