Fed meeting coverage: Powell, not rates, makes the spotlight

Fed meeting coverage: Powell, not rates, makes the spotlight

The Federal Reserve will more than likely hold interest rates steady at its May 7-8 policy meeting. Still, all eyes are on Chair Jerome Powell’s comments on the state of the America market, inflation, and the possibility of a recession. Powell will address the press on the Fed’s interest rate decision at 2 PM ET Wednesday.

Markets have nearly ruled out any changes to the federal funds rate this week. The CME Group’s FedWatch tool assigns a 97% probability that the central bank will maintain its current target range of 4.25% to 4.50%. After making three cuts in 2024, the central bank has not touched the rate since last December.

Investors, economists, and policymakers are waiting for Powell’s remarks in the post-meeting press conference to get clues about how the Fed will help America’s economy.

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