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.”

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.

The Dow logged its first record close of the year and bond yields fell after Federal Reserve Chair Jerome Powell struck an upbeat tone on a September interest-rate cut.

Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.

Wall Street's main indexes ended higher on Friday, with the blue-chip Dow hitting a record closing high, as investors piled into stocks after U.S. Federal Reserve Chair Jerome Powell hinted at a near-term interest-rate cut during his Jackson Hole Symposium speech.

Wall Street cheered remarks from Federal Reserve Chair Jerome Powell in Jackson Hole opening the door to a rate cut in September.

President Donald Trump has sought to terminate Federal Reserve Chair Jerome Powell, potentially setting up another constitutional fight if Powell refuses to go.

Stocks closed lower Wednesday, led by a continued technology sector sell-off, as investors brace for a big speech later in the week by Federal Reserve Chair Jerome Powell.