Fed Chair Powell holds a press conference
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Watch live: Jerome Powell delivers interest rate decision in first public event since DOJ inquiry
Federal Reserve Chairman Jerome Powell is set to deliver the central bank’s decision on interest rates in a press conference on Wednesday afternoon following a two-day policy meeting. The embattled chairman faced the ire of President Donald Trump last year for refusing to lower national interest rates.
The Federal Reserve is expected to keep its key interest rate at the target range of 3.5% to 3.75%, but traders are looking for hints on next steps for policy.
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Stock market today: Nasdaq rises as Powell sees improving outlook; Tesla soars (live coverage)
Stock Market Today: The Dow Jones index wavers Wednesday after the Fed holds its key rate steady. Tesla earnings are due late.
Fed Chair Jerome Powell's guidance on the likelihood of future interest-rate cuts is what matters most today, economists at Citi said. If Powell leans hawkish or dovish, that will be the key signal. But which way will he lean?