Powell delivered the guidance in a highly anticipated speech on Friday at the central bank's annual symposium in Jackson Hole, WY.

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

Wall Street on Friday notched its best day since late May, sparked by Federal Reserve interest rate cut expectations. Fed chair Jerome Powell at the Jackson Hole Economic Policy Symposium did not fully commit to cutting rates but did note that the downside risks to the labor market were increasing and that the "baseline outlook and the shifting

The president's latest attack comes as Powell is scheduled to deliver remarks at the Fed's annual conference in Jackson Hole, WY, on Friday.

The bond market appears more prepared for Federal Reserve Chair Jerome Powell to potentially signal on Friday at the annual Jackson Hole Economic Policy Symposium in Wyo. that he may not be in a rush to cut interest rates next month,

U.S. stock indexes extended gains on Friday after Federal Reserve Chair Jerome Powell pointed to a possible rate cut at the central bank's next policy meeting in his remarks at the Jackson Hole Symposium.