Investors have all eyes fixed on the Federal Reserve’s annual economic symposium in Jackson Hole, Wyo., as the Fed charts the future direction of the monetary policy in what could be a defining moment for the market’s summer story.

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.

The U.S. dollar was little changed on Wednesday as traders awaited a speech from Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium later this week for clues on the monetary policy path.

Gold edged down as investors awaited the Federal Reserve’s Jackson Hole gathering for clues on the path for US interest rates.Bullion traded around $3,340 an ounce, paring some of the gains made on Wednesday when President Donald Trump’s call for Fed Governor Lisa Cook to resign bolstered haven demand.

Subscribe to TheStreet's free daily newsletter 💰💵 At last month’s meeting of the Fed’s Federal Open Market Committee, most of the participants’ concerns over tariff inflation took priority over softening in the labor market.