The Federal Reserve held interest rates steady Wednesday amid growing speculation that the central bank would start rate cuts later this year.
Fed Chair Jerome Powell is slated to give remarks Wednesday afternoon on the decision.
Markets had been expecting the Fed to keep rates where they are as inflation continued to fall over the summer, but not quickly enough to spur the central bank to ease its policy. The Fed has maintained rates at their current level since last August in response to elevated inflation, which proved stickier than expected in its descent over the past two years.
Powell is scheduled to speak at 2:30 p.m. EDT.
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