Watch Live: Federal Reserve Chairman Press Conference

Jerome Powell 2016. Photo by Federal Reserve.

As the News Blender reported earlier Wednesday, the Federal Reserve is expected to make an announcement following the conclusion of their two day meeting.

USA Today reported that the stock market fell in early Wednesday as investors held back ahead of an anticipated decision by the Federal Reserve to cut interest rates.

CNBC is reported that the expected interest cut has been approved.

In a vote widely anticipated by financial markets, the central bank’s Federal Open Market Committee lowered its benchmark funds rate by 25 basis points to a range of 1.5% to 1.75%. The rate sets what banks charge each other for overnight lending but also is tied to most forms of revolving consumer debt.
This was the third cut this year as part of what Fed Chairman Jerome Powell as characterized as a “mid-cycle adjustment” in a maturing economic expansion.

CNBC News.

Powell is expected to hold a press conference at 2:30 eastern time.

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About Tiff 1270 Articles
Member of the Free Press who is politically homeless and a political junkie.