Federal Reserve

U.S. stocks moved sideways in early trading Wednesday on Wall Street ahead of a highly anticipated Federal Reserve statement on interest rates.

The Federal Reserve seems poised to pivot from keeping interest rates steady to holding out the option of cutting rates if it were to decide that the economic expansion needs support.

___ Fed leaves its key rate unchanged but hints of future cuts WASHINGTON (AP) — The Federal Reserve left its key interest rate unchanged but signaled that it's prepared to start cutting rates if needed to protect the U.S. economy from trade conflicts and other threats.

Mario Draghi is credited with saving the euro through decisive action as president of the European Central Bank.

Stocks rose modestly on Wall Street after the Federal Reserve reaffirmed that it is prepared to cut interest rates if needed to shore up the economy.

The latest on developments in financial markets (all times local): 9:35 a.m.

On Tuesday, the social media giant unveiled details about Libra, a new cryptocurrency powered by blockchain.

“I think the law is clear that I have a four-year term, and I fully intend to serve it,” Powell told reporters. 

The Federal Open Market Committee (FOMC) delivered its interest-rate decision on Wednesday, following a two-day meeting, leaving rates unchanged in the range of 2.25 percent - 2.5 percent.

Below is the statement the Fed released Wednesday after its policy meeting ended: Information received since the Federal Open Market Committee met in May indicates that the labor market remains strong and that economic activity is rising at a moderate rate.

The Latest on the Federal Reserve's monetary policy meeting (all times local): 5:05 a.m.

Despite Powell's comments, traders currently are pricing in a 100 percent chance of a rate cut during the FOMC's July meeting. 

Fed leaves key interest rate unchanged but says uncertainties rising, signaling future rate cuts.

The upshot of the central bank's decision to leave the federal funds rate unchanged sent a clear signal to investors about its "dovish" disposition.

Asian shares were mostly higher Wednesday on optimism about trade after President Donald Trump said he will talk with the Chinese leader later this month in Japan.

Official figures show that inflation in Britain dipped in May, back to the Bank of England's target, amid lower air fares and car prices.

Stocks rose sharply in early trading on Wall Street Tuesday, following big gains in Europe, as investors got back their appetite for risk.

The latest on developments in financial markets (all times local): 9:35 a.m.

Most economists anticipate the U.S. central bank will keep the benchmark federal funds rate at 2.25 percent to 2.5 percent.

European Central Bank President Mario Draghi says that the eurozone's monetary authority stands ready to cut interest rates and could re-start its bond purchase stimulus program if the economy needs it.