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.

Federal Reserve Chair Jerome Powell on Friday said the central bank faces a "challenging situation" as a hiring slowdown coincides with tariff-driven price increases, putting pressure on both sides of the Fed's dual mission to maximize employment and control inflation.

Federal Reserve Chair Jerome Powell on Friday announced an updated operating framework more oriented toward traditional efforts of promoting price stability, supplanting what had been a troubled effort that biased central bank policy toward its job mandate over its inflation target.