"Only expect minor statement tweaks, including smoothed language on recent labour data," noted Deutsche Bank's Jim Reid.

"Only expect minor statement tweaks, including smoothed language on recent labour data," noted Deutsche Bank's Jim Reid.

Powell's term as Fed chair is scheduled to end on May 15, but he could elect to stay on the board to finish his term as a Fed governor.

Powell's term as Fed chair is scheduled to end on May 15, but he could elect to stay on the board to finish his term as a Fed governor.