The Federal Reserve’s annual conference, hosted by the Kansas City Fed in Jackson Hole, Wyoming, began Thursday evening with a dinner for the central bankers, economists and journalists who have flown in from around the world.

Wall Street will search for confirmation of a September interest rate cut when Federal Reserve Chair Jerome Powell speaks at the Jackson Hole symposium on Friday, a potentially pivotal moment for the market and rate-sensitive sectors in particular.

Federal Reserve officials sounded cautious in interviews and speeches as the central bank's Jackson Hole meeting kicks off this evening. At the same time, a former Fed official on the White House's list to replace Fed Chair Jerome Powell backed aggressive easing.