Federal Reserve Chairman Jerome Powell will speak in Jackson Hole, Wyoming, on Friday.

Powell will deliver remarks at the Fed's annual symposium on Friday morning as part of a yearly central bank retreat in which he provides policy updates.

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At last year's event, Powell said the Fed needed to show resolve in fighting inflation, which had hit record highs.

This year, the chairman is likely to speak on what the central bank has accomplished over the last year and provide information on how the Fed plans to continue bringing down inflation.

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Inflation ticked up to 3.2% in July, the first increase after a full year of declines. The inflation rate came as a blow to President Joe Biden, who is working to reassure voters that his economic plan is working and he is curbing price pressures, and the Fed, which has been working hard to bring down inflation.

Powell's speech will begin at 10 a.m. Eastern time.