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

Major brokerages anticipate a 25-basis-point rate cut by the U.S. Federal Reserve in September, following Chair Jerome Powell's speech at Jackson Hole highlighting labor market risks. Powell's remarks led Barclays and others to adjust their rate cut forecasts,

Powell's Jackson Hole speech hinted at a September rate cut, but labor concerns and data show high uncertainty. Read why markets rallied, but caution is key.