The Latest Breaking News from Jerome Powell

"The economy is strong overall," Chairman Jerome Powell said.

The Federal Reserve cut rates as expected and penciled in two more for 2025. But the S&P 500 turned lower over doubts the Fed will follow through on its dovish policy signals.

The US Federal Reserve is widely expected to cut interest rates by a quarter point on Wednesday and signal a slower pace of cuts ahead.

Federal Reserve officials on Wednesday will likely signal a slower pace of interest rate cuts next year compared with the past few months, which would mean that Americans might enjoy only slight relief from still-high borrowing costs for mortgages, auto loans and credit cards

Wall Street has been bracing for a hawkish Federal Reserve meeting outcome, but maybe not hawkish enough.

The Federal Reserve is expected to cut its key interest rate by 25 basis points on Wednesday.

December S&P 500 E-Mini futures (ESZ24) are trending down -0.45% this morning as investors braced for the start of the Federal Reserve’s two-day policy meeting while also awaiting a new batch of U.S. economic data, with a particular focus on the retail sales report.

December S&P 500 E-Mini futures (ESZ24) are trending down -0.22% this morning as investors braced for the start of the Federal Reserve’s two-day policy meeting while also awaiting a new batch of U.S. economic data, with a particular focus on the retail sales report.

Two of the three main equity indexes closed higher on the first day of the final Fed Week of 2024.