Federal Reserve

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.

The Federal Reserve is likely — if not certain — to leave interest rates alone when its latest policy meeting ends Wednesday.

Larry Kudlow declined to comment whether the White House had ever considered demoting Powell.

A decision on interest rates is expected Wednesday, followed by a press conference with chairman Jerome Powell.

Asian stocks were mixed on Tuesday as caution set in ahead of interest rate decisions by the U.S. Federal Reserve and other central banks.

Earlier in the day, Draghi said the ECB was ready to cut interest rates, if the economy needed it.

U.S. stocks edged higher in early trading on Wall Street Monday following two weeks of gains.