The Federal Reserve’s annual gathering in the Rocky Mountains is usually a time for central bankers and their wonky friends to kick back, discuss a few complicated economic topics and then go for a hike in the shadow of Grand Teton.

As Fed Chairman Jerome Powell spoke at the annual conference in Wyoming, U.S. President Donald Trump threatened to fire Fed Governor Lisa Cook.

Major brokerages anticipate a 25-basis-point rate cut by the U.S. Federal Reserve in September, following Chair Jerome Powell's speech at Jackson Hole highlighting labor market risks. Powell's remarks led Barclays and others to adjust their rate cut forecasts,