The Latest Breaking News from Jerome Powell

The Federal Reserve left interest rates unchanged Wednesday, despite stubborn inflation, although it left the door open to an additional rate hike in November or December.

Federal funds rate will remain at the the same level as the central bank announced in July, when it last raised rates

Federal Reserve chair Jerome Powell may not bare his hawkish talons on Wednesday with core inflation falling rapidly.

Since Federal Reserve officials last met in July, the economy has moved in the direction they hoped to see: Inflation continues to ease, if more slowly than most Americans would like, while growth remains solid and the job market cools

Economists are seeing shadows.

Federal Reserve Chair Jerome Powell swore in three members of the central bank’s governing board Wednesday, including Philip Jefferson as vice chair and Adriana Kugler to fill a vacant seat as the central bank’s first Latina governor

Growth in prices still remains far below the decades-high inflation rates that were seen last summer, when rate peaked at 9.1% in June

A sharp increase in gas prices likely pushed inflation higher in August compared with a year ago, yet a measure excluding energy and food costs is expected to fall for the fifth straight month, suggesting that the Federal Reserve’s interest rate hikes are still bringing down prices for many goods…

The CPI inflation rate is expected to rise again as gas prices bite, but easing core inflation and a slowing consumer are good news for the Fed.