Three Federal Reserve officials appeared lukewarm on Thursday to the idea of an interest rate cut next month, as investors geared up for U.S. central bank chief Jerome Powell's speech to the annual Jackson Hole conference in Wyoming.

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.

A potential candidate to succeed Federal Reserve Chair Jerome Powell, David Zervos, said that it’s inaccurate to describe the US central bank as independent, and characterized the outgoing Fed chief as aligned with the political left.

President Donald Trump is calling on a Federal Reserve governor to resign over an accusation of mortgage fraud.

Powell is slated to give his annual address in Jackson Hole, Wyoming, on Friday. Swaps are pricing in a high probability the Fed will cut borrowing costs by a quarter point next month. In the face of mounting pressure from President Donald Trump for hefty reductions,