Jerome Powell is expected to speak at the Jackson Hole Economic Conference for the last time since being appointed by President Donald Trump in 2017. Powell's speech will be closely watched by central bank leaders worldwide at the event held at Jackson Lake Lodge, Wyoming.

Seven of Powell's speeches at Jackson Hole so far have addressed various themes, from the history of monetary policy to employment goals, from anti-inflation strategies to commitments to support during the pandemic. Each speech has been a highlight, revealing signs of the Fed's next interest rate adjustment.

Below is what he said in previous years and what happened afterward:

- In 2018 - Powell emphasized the importance of gradually raising interest rates. There were four rate increases that year.

- In 2019 - Powell, emphasizing the slowdown in global growth and uncertainty about trade, stated that measures would be taken as needed. The Fed cut rates three times that year.

- In 2020 - In an online speech due to the pandemic, Powell announced a new strategy, including maximum employment and an average inflation target of 2%.

- In 2021 - Powell argued that inflation was only temporary and suggested that interest rates should not be raised hastily. However, this approach later faced criticism.

- In 2022 - Powell clarified that raising interest rates and an economic downturn to combat inflation would bring 'pain'. The Fed continued to raise rates aggressively.

- In 2023 - Powell, believing that inflation is improving, stated that interest rate increases could continue if necessary. The policy rate remained stable at 5.25%-5.50%.

- In 2024 - Focusing on maintaining employment as inflation risks decrease, Powell stated that it is time to cut rates. The Fed will reduce rates by another 50 basis points in September 2024.

Powell's speech this year is expected to include important messages regarding whether the rate-cutting process will continue.

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