This is CNBC’s live blog covering the Federal Open Market Committee meeting and Chair Jerome Powell’s press conference.
Federal Reserve policymakers will make their latest decision on interest rates at 2 p.m. ET Wednesday, and it is likely to be the last such call under Jerome Powell’s leadership. The market widely anticipates that policymakers will hold rates in a range of 3.5% to 3.75% as they closely monitor the labor market and inflation, which has stubbornly held above the central bank’s 2% target.
Powell will hold a news conference at 2:30 p.m. ET. One closely watched detail will be whether he says if he’ll stay on to serve the rest of his term. Although his term as chair expires on May 15, he could continue to serve as a Fed governor in order to ensure the Fed’s independence.
It also could be a big day for Powell’s anticipated successor. Kevin Warsh’s nomination as Fed chair is expected to be advanced from the Senate Banking committee Wednesday morning.
Follow live coverage of the day’s events here.
