Trump pressures fed ahead of Powell speech at Jackson Hole symposium

President Donald Trump is intensifying pressure on the Federal Reserve as central bankers from around the world gather in Wyoming for their annual economic symposium.

(CNN)- President Donald Trump is intensifying pressure on the Federal Reserve as central bankers from around the world gather in Wyoming for their annual economic symposium.

The high-profile event, which shapes global monetary policy, features a keynote speech today from Fed Chair Jerome Powell. Analysts expect Powell could signal a modest rate cut amid concerns over the labor market, though Trump is pushing for more aggressive action.

The president has gone further, calling Powell a “numbskull” and demanding his resignation. He’s also targeting Fed Governor Lisa Cook, a Biden appointee who opposed recent rate cuts. A Trump administration official has alleged Cook may have committed mortgage fraud by listing two primary residences. Cook denies wrongdoing and says she will release full financial records to clarify the matter.

Economists warn that political interference in the Fed could destabilize the economy. “When you compromise the independence of the central bank, very bad things happen,” said Jared Bernstein, former chair of the White House Council of Economic Advisers.

As the debate unfolds, Fed leaders continue to weigh the difficult balance between lowering borrowing costs and keeping inflation under control.