Fed chairman doesn’t see signs of economic downturn, yet ‘poverty remains a challenge’
In a visit to a historically black university in the Mississippi Delta, Jerome Powell said that many rural areas have not benefited from the national prosperity. He said those areas need special support.
Trump, Federal Reserve Chair Powell meet over dinner
The dinner marks the first time Trump and Powell have met since Trump picked him for the top Fed job in November 2017.
WATCH: Fed chair makes announcement on interest-rate outlook
Fed Chairman Jerome Powell will hold a news conference at 2:30 p.m. ET today. Watch his remarks here.
3 things to watch for from the Federal Reserve on Wednesday
The Federal Reserve is set Wednesday to leave its key short-term interest rate alone and to signal that it will remain cautious this year about raising rates further.
Threats from volatile stock markets, trade tensions and uncertain global growth made the future path of interest rate hikes "less clear," Federal Reserve officials said during their December meeting.
Powell's comments, made during a panel discussion in Atlanta, were immediately cheered by financial markets, which were already rallying on the basis of a strong unemployment report that showed 312,000 jobs were created in December.
As the Federal Reserve edges closer to ending its rate hikes altogether, its decision-making has become trickier.
The quarter-point hike, to a range of 2.25 percent to 2.5 percent, lifted the Fed's benchmark rate to its highest point since 2008. The increase will mean higher borrowing costs for many consumers and businesses.
Federal Reserve Chairman Jerome Powell cast a bright picture of the U.S. economy Wednesday and appeared to suggest that the Fed might consider a pause in its interest rate hikes next year to assess the impact of its credit tightening.
