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.

Jerome Powell just concluded his much-anticipated speech at the Jackson Hole economic conference, and the reactions are strong. Holding a very nuanced approach, as we're used to from Powell, markets still interpreted some of his wording as a slightly dovish opening.