WATCH LIVE: Jerome Powell holds press conference as Federal Reserve considers interest rate hike
The Chairman of the Federal Reserve, Jerome Powell, is scheduled to hold a press conference after the central bank’s board announces its decision on interest rates.
In the wake of the collapse of Silicon Valley Bank and the instability of other midsize banks, the Federal Reserve will decide whether to raise interest rates to curb inflation, which is currently high.
Investors anticipate an increase in interest rates. There is a 69% chance that the Fed will raise rates by 0.25 of a percentage point, according to the CME Group’s FedWatch tool. Such a move would signal that the Fed considers inflation to be a greater concern than any economic uncertainty regarding the banking system.
The press conference with the Federal Reserve Chairman is scheduled to begin at 2:30 p.m.
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