U.S. Federal Reserve Chair Jerome Powell's speech to the annual Jackson Hole economic conference on Friday comes amid unprecedented pressure on the central bank from President Donald Trump, but mixed economic data may pull Powell toward a middle ground that leaves major questions unresolved.

The Trump administration has pressured Powell, whose term as Fed chair expires next year, to step down as chair of the central bank.

Five meetings and eight months have elapsed since the Fed last adjusted interest rates. The federal funds rate stands between 4.25% and 4.5%, preserving much of a sharp increase i