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Since taking office, Fed Chairman Powell's speech at the Central Bank's annual summit in Jackson Hole, Wyoming, has always been a high-risk moment.
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At 10 PM Beijing time on Friday, the Fed chair will take the stage at Jackson Hole for the last time under "fire"; he is currently facing fierce attacks from President Trump as well as a growing "rebellion" within his own institution.
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Powell's overview of several major issues facing the Fed will shape the future of the Central Bank in some way after his term ends, and will be a key part of his political legacy.
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Planning policy path
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Powell's speech this time is titled "Economic Outlook and Framework Assessment," which indicates that Powell will take time to elaborate on his views on the macro situation and discuss the Fed's long-term policy objectives, which is a review conducted once every five years.
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The market expects Powell to lay the groundwork for a rate cut in September.