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

Powell delivered the guidance in a highly anticipated speech on Friday at the central bank's annual symposium in Jackson Hole, WY.

Powell’s speech comes amid unprecedented pressure from the White House aimed at getting the central bank to lower borrowing costs.

As Fed Chairman Jerome Powell spoke at the annual conference in Wyoming, U.S. President Donald Trump threatened to fire Fed Governor Lisa Cook.

If yields fall steadily before an event, it signals institutional buying momentum and a higher probability of a growth-stock rally, whereas flat or rebounding yields suggest weaker rate-cut expectations and the risk of a short-term equity correction. A framework that applies not only to bonds but also to equities, FX, and commodities.

The Federal Reserve notes the balance of risks to the U.S. economy may warrant a shift in policy stance – in other words, a rate cut. Read more here.

Bond investors are heading into Friday’s much-anticipated Jerome Powell speech largely expecting the Federal Reserve chair will indicate policymakers will start cutting interest rates next month.

Jerome Powell’s final Jackson Hole speech as Fed Chair could hint at rate cuts, with markets watching closely amid Trump’s pressure.