Fed Chair Powell sparked a big rally as he signaled the central bank could cut rates in September in his remarks at the Jackson Hole policy symposium.

Trump ratcheted up his pressure campaign this week, calling on Fed Governor Lisa Cook to resign after a Trump administration official alleged that she had committed mortgage fraud. Cook rebuked the push for her to quit, saying she has “no intention of being bullied to step down from my position because of some questions raised in a tweet.”

If inflation starts climbing again after a rate cut, “the Fed will have to reverse course—and in the worst case, start hiking again,” Slok said.

Fed Chair Jerome Powell's address on Friday and Nvidia earnings after the close on Wednesday may hold the keys as to whether the bull market can continue. "In the near-term, if Chair Powell can give a market-friendly speech and NVDA can meet,

The stock market is heading into a catalyst-filled week as Fed Chair Jerome Powell gets ready to speak at Jackson Hole and big retailers report earnings.

Inflation risks are still running high, while the job market shows signs of softening — “a challenging situation,” Powell acknowledged. “The baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,