Federal Reserve Chair Jerome Powell speaks after Fed holds interest rates steady — 6/12/2024

Federal Reserve Chairman Jerome Powell delivers remarks following the Federal Reserve's two-day policy meeting on Wednesday.

The Federal Reserve on Wednesday kept its key interest rate unchanged and signaled that just one cut is expected before the end of the year.

With markets hoping for a more accommodative central bank, Federal Open Market Committee policymakers following their two-day meeting took two rate reductions off the table from the three indicated in March. The committee also signaled that it believes the long-run interest rate is higher than previously indicated.

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Federal Reserve Chair Jerome Powell speaks after Fed holds interest rates steady — 6/12/2024