Happening Now: Jerome Powell speaks in Jackson Hole

Federal Reserve Chair Jerome Powell is slated to deliver a high-profile speech in Jackson Hole, Wyoming Friday morning about how the central bank sees the economy and what its next steps may be.

Powell will likely indicate that the Fed has grown more confident that inflation is headed back to the 2 percent target, which it has long said would be necessary before rate cuts would begin.

Economists agree that the Fed is getting closer to conquering high inflation, which brought financial pain to millions of households beginning three years ago as the economy rebounded from the pandemic recession. Few economists, though, think Powell or any other Fed official is prepared to declare “mission accomplished.”

Friday morning's event is scheduled to begin at 10 a.m. EDT.

Watch the video above.