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

Morgan Stanley has joined a growing bloc of global brokerages forecasting a September interest rate cut by the U.S. Federal Reserve, citing Chair Jerome Powell's shift in tone toward labor market risks at the Jackson Hole symposium.

World shares were mixed on Monday after the head of the Federal Reserve hinted that cuts to interest rates may be on the way. European markets opened lower, with Germany's DAX down 0.2% at 24,305.67,

President Donald Trump says he's firing Federal Reserve Governor Lisa Cook, a sharp escalation in his battle to exert greater control over what has long been considered an institution independent from day-to-day politics.

President Donald Trump moved to remove Federal Reserve Governor Lisa Cook from her post at the US central bank in the wake of allegations that she falsified documents on mortgage applications.