By Howard Schneider WASHINGTON (Reuters) -Fed Chair Jerome Powell used the central bank's annual Wyoming research conference to promise inflation-fighting rigor when it was needed in 2022, then last year he came to the defense of the job market with promises of lower interest rates when the unemployment rate seemed on a steady rise.

Tariffs and inflation dominate markets, not Jackson Hole. Discover how these factors, along with labor trends, shape market volatility.

Federal Reserve Chair Jerome Powell will offer an economic outlook at the central bank’s annual symposium. The subtext of this year’s speech is more important.