The Fed will stop shrinking its $7 trillion balance sheet in December, but Powell stressed it’s a pause in quantitative tightening, rather than a new phase of easing.

Wednesday's decision brings the Fed's key rate down to about 3.9%, from about 4.1%.

The Fed will stop shrinking its $7 trillion balance sheet in December, but Powell stressed it’s a pause in quantitative tightening, rather than a new phase of easing.

Stocks came off their highs after Federal Reserve Chair Jerome Powell made a point of saying that a December rate cut isn't a 'foregone conclusion.'

The Federal Reserve meeting that wrapped up Wednesday both delivered on expectations and offered a few surprises.

Before Wednesday, economists and markets were betting on a December rate cut. After Fed Chair Jerome Powell’s comments, they aren’t so sure.