Watch live coverage as Federal Reserve Chairman Jerome Powell speaks after reaching a decision on interest rates. Powell has faced repeated criticism from President Trump and frequent calls to lower interest rates.

Jerome Powell pushed back against bond traders betting that the Federal Reserve would sweep in with a series of aggressive interest-rate cuts to prevent the US economy from stalling.

Bitcoin was trading 1.6% lower Wednesday afternoon, as U.S. stocks fell, after Federal Reserve Chair Jerome Powell said the central bank would adopt a “meeting-to-meeting” stance in cutting interest rates toward neutral.

Federal Reserve Chair Jerome Powell said the central bank will cut interest rates by a quarter point, following rising inflation and slow job growth.

US Fed Meeting 2025 LIVE: The US central bank's Federal Open Market Committee (FOMC), led by Chairman Jerome Powell, is scheduled to announce a benchmark interest rate today, following its two-day meeting from September 16 to September 17.

The Dow Jones Industrial Average turned lower, joining the S&P 500 and Nasdaq Composite in the red, after Federal Reserve Chair Jerome Powell said the central bank would take a "meeting-to-meeting" approach toward cutting interest rates to a neutral level.