Federal Reserve Chair Jerome Powell is set to deliver his annual address at the central bank’s symposium in Jackson Hole, Wyoming. Markets are eagerly awaiting hints on a potential September interest rate cut, with a 70% probability of a rate decrease. Powell’s speech will also touch on the labor market and inflation.

Aside from monetary policy, the Fed is facing non-policy controversies. The White House criticized the Fed for a renovation project, and calls for Governor Lisa Cook to resign over mortgage fraud charges. Powell’s speech will also address these issues, adding to the anticipation surrounding his address at Jackson Hole.

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1. Amazon announces plans to hire 100,000 new employees in the U.S. and Canada. The company aims to fill roles in fulfillment centers, delivery networks, and corporate offices.
2. Tesla’s market value surpasses $800 billion, making it the fifth most valuable company in the S&P 500. The electric car maker’s stock price has surged over 700% in the past year.
3. Microsoft reports a 33% increase in quarterly revenue, driven by strong demand for cloud services and software products. The tech giant’s earnings exceed analysts’ expectations, with a net income of $15.5 billion.
4. Airbnb experiences a surge in bookings for remote locations as travelers seek to escape crowded cities during the pandemic. The company expects a strong rebound in the travel industry as vaccines become more widely available.: Fed Chair Powell delivers key policy speech at Jackson Hole