The Federal Reserve concluded its first two-day meeting under new chair Jerome Powell on Wednesday, announcing another increase in the benchmark interest rate as the central bank continues on the path toward policy normalization.
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Wednesday’s rate hike is the sixth since late 2015.
Powell then commented on the strength of the economy and projections for future rate increases as inflation remains below the Fed’s target of 2% despite a host of strengthening signs in the labor market.
Below is FOX Business’ coverage of Powell’s comments during his first press conference.