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What time is the Fed meeting today? All on interest rate decision timing, Jerome Powell's presser
The Federal Reserve's Federal Open Market Committee (FOMC) is concluding its two-day policy meeting on Wednesday
The Federal Reserve's Federal Open Market Committee (FOMC) is concluding its two-day policy meeting on Wednesday, with a highly anticipated announcement on interest rates. The Fed is expected to announce its first interest rate cut of 2025 at a press conference led by Jerome Powell. This comes as President Donald Trump has, for months, pushed the central bank to slash rates.
Investors and economists widely expect a 25-basis-point rate cut, the first since December 2024, bringing the federal funds rate target range to 4.00%–4.25%.
When will Fed announce its interest rate decision?
The rate decision will be announced at 2:00 PM ET, following the FOMC's closed-door deliberations.
When is Chair Jerome Powell's press conference?
Powell's press conference is set for 2:30 PM ET. He will address the decision, economic challenges, and potential impacts from tariffs and labor market trends. The live webcast will be available on the Federal Reserve's website and YouTube channel.
Meanwhile, the US dollar regained some ground against the euro on Wednesday, bouncing back from a four-year low as investors braced for the FOMC decision. “FX traders are essentially sitting on their hands and waiting for clarity from the Fed,” said Matthew Weller, global head of market research at StoneX, as per Reuters.
By mid-morning, the euro slipped 0.2% to $1.18485 after touching $1.18785 on Tuesday, its strongest level since September 2021. The dollar index, which tracks the US currency against six peers, edged up 0.1% to 96.76.
The central bank’s two-day meeting began Tuesday with unusual political tension surrounding its board. Stephen Miran, a new Trump administration appointee, joined the deliberations, while Governor Lisa Cook, initially targeted for removal by Trump, was cleared to participate after a federal appeals court blocked her dismissal earlier this week. Cook, appointed by former President Joe Biden, now remains in place.
(With inputs from Reuters)
