The hope among investors had been that Powell would hint that the Fed's first cut to interest rates of the year may be imminent.

Former St. Louis Fed President James Bullard said Friday that a September interest-rate cut was now a "done deal." It was notable that Powell "didn't say too much" about the rest of the year, Bullard said,

Federal Reserve Chair Jerome Powell on Friday pointed to a possible interest rate cut at the U.S. central bank's meeting next month, but stopped short of committing to it, in remarks acknowledging both the growing risks to the job market and ongoing threat of higher inflation.

CNBC's Tanaya Macheel reports on cryptocurrencies after Federal Reserve chairman Jerome Powell's speech at the Fed’s annual conclave in Jackson Hole, Wyoming.

So many Federal Reserve officials have said they are waiting for data over the next few weeks before deciding on a September rate cut that it doesn't leave Fed Chair Jerome Powell much room to clearly signal a rate cut,

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

Not even 48 hours after the conclusion of last month's meeting, data from the Labor Department appeared to validate the concerns of Bowman and Waller when it showed fewer jobs than expected were created in July.