The big day is finally here for Federal Reserve Chair Jerome Powell to show more of his hand in his speech at 10 am ET at the Fed's annual Jackson Hole conference. How will he thread the needle between lingering inflation concerns and uncertainty around tariff effects on the one hand versus the dramatic slowing in the labor market now evident on the other?

Powell is caught between the rising voices of dissenters Michelle Bowman and Christopher Waller, the governors already calling for a rate cut, and the Fed majority which is aligned with the more cautious view Powell has taken until now. Not to mention the harsh attacks on the Fed and calls for huge rate cuts coming from President Trump and his team. Powell has used the Jackson Hole appearance to set the stage for policy shifts in the past. Will he this time? Or will be say he won't prejudge the deliberations to come at the meeting of policy-makers coming on Sept. 16-17?

Markets continue to price in a 25 basis point rate cut on September, according to the CBOE Fedwatch tool. The outlook after that is less clear.

Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.

Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.