Watch Fed Chair Powell speak live from Jackson Hole symposium

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Federal Reserve Chair Jerome Powell is delivering his annual address at the central bank’s Jackson Hole, Wyo., symposium Friday morning.

A year ago, Powell emphasized that the Fed was committed to bringing down inflation and cautioned that “some pain” was likely for the economy. In previous speeches, he has varied on his policy indications, and this year market expectations are for him to find a center lane that stresses data dependence rather than a preset notion.

Markets have been volatile leading up to the speech, and traders are pricing in a slightly better than even probability that the Fed has one more rate hike in store this year.

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