Federal Reserve Chair Jerome Powell is set to give what could be his most consequential speech yet — just a few days after one of his colleagues was threatened with prosecution for alleged mortgage fraud.

Investors are bracing for volatility as Federal Reserve Chair Jerome Powell walks a fine line between curbing inflation and supporting the labor market, with thin August trading poised to magnify any market moves from his Jackson Hole speech on Friday.

But every August, the Jackson Hole Economic Symposium make headlines, move markets and fuels policy debates. Hosted since 1978 by the Federal Reserve Bank of Kansas City, the annual meeting convenes roughly 120 participants to discuss new research and pressing economic issues.

Jay Powell’s speech at the Federal Reserve’s August summit in Jackson Hole, Wyoming, is always a high-stakes moment. This year, the central bank’s chair takes the podium under fire — facing fierce attacks from Donald Trump and a growing insurgency within his own institution.

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.

By Howard Schneider WASHINGTON (Reuters) -Fed Chair Jerome Powell used the central bank's annual Wyoming research conference to promise inflation-fighting rigor when it was needed in 2022, then last year he came to the defense of the job market with promises of lower interest rates when the unemployment rate seemed on a steady rise.