The president and his allies accuse Powell of dragging his feet on interest-rate cuts, in a caustic and unprecedented pressure campaign.

Wall Street will be listening closely to Federal Reserve Chair Jerome Powell's speech Friday at the Jackson Hole economic policy summit, where he could signal whether the central bank is ready to cut borrowing costs at its next meeting in September.

Wall Street is ticking lower in premarket trading as investors perused Walmart’s latest financial results ahead of Federal Reserve Chair Jerome Powell’s speech on Friday.