Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.

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

Trump ratcheted up his pressure campaign this week, calling on Fed Governor Lisa Cook to resign after a Trump administration official alleged that she had committed mortgage fraud. Cook rebuked the push for her to quit, saying she has “no intention of being bullied to step down from my position because of some questions raised in a tweet.”

It’s time once again for central bankers, economists and academics to gather in Jackson Hole, Wyoming, for the Federal Reserve of Kansas City’s annual economic policy symposium. The gathering comes as the Fed finds itself an increasing focus of criticism from the White House as President Donald Trump seeks to transform the global economy and the US workforce.

Fed Chairman Jerome Powell, under pressure from US President Donald Trump, speaks at annual conference in Wyoming.

If the famously data-dependent Federal Reserve Chair Jerome Powell shifts gears and takes a gloomier view of the job market, that could open the door for a rate cut at the Fed’s next meeting in September.

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

Fed Chair Powell sparked a big rally as he signaled the central bank could cut rates in September in his remarks at the Jackson Hole policy symposium.