F ederal Reserve Chairman Jerome Powell used last year's Jackson Hole, Wyo., speech to kick off a rate-cutting cycle, but Wall Street now doubts that this year's speech will signal a resumption of rate cuts. The good news for investors is that markets have already braced for disappointment somewhat.

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

Both Wall Street and the White House will be paying close attention to Fed Chair Jerome Powell’s high-profile speech Friday at the Fed’s annual economic symposium in Jackson Hole, Wyoming.