The Latest Breaking News from the Federal Open Market Committee

Stocks sold off late Wednesday after Fed Chair Jerome Powell pushed back on expectations for another interest rate cut in December, warning that such a move is "far from a foregone conclusion” as the Federal Open Market Committee remains divided and incoming data remains clouded by shutdown-related gaps.

Fed Chair Jerome Powell threw cold water on investor hopes for another interest rate cut in December, stressing that the Federal Open Market Committee remains deeply divided and that the road ahead is clouded by data gaps and conflicting risks between the central bank’s objectives.

“The July jobs report goes a long way toward providing the evidence of a weaker labor market that the Fed needs to justify cutting interest rates in the face of above-target inflation,” said Brian Rose at UBS Global Wealth Management.

The July Fed meeting came and went, with Fed Chair Powell saying little about a September rate cut and President Trump.

The White House believes tariffs are a win for American voters, but Sen. Warren tells Fortune the policy has driven up tariff-vulnerable costs, delayed manufacturing investment, and forced the Fed to keep interest rates higher than it otherwise would.

Federal Reserve Governor Christopher Waller just made the case for cutting interest rates at the Federal Open Market Committee's July meeting.

Jerome Powell actually wears two hats: He is chair of the Fed’s Board of Governors and chair of the Federal Open Market Committee.

Kansas City Federal Reserve President Jeff Schmid said on Tuesday that the central bank has sufficient time to analyze rising import tariff impacts on inflation and economic growth before implementing further interest rate cuts.What Happened: “The current posture of monetary policy, which has been characterized as ‘wait-and-see,’ is appropriate,” Schmid…

The Federal Open Market Committee said it "judges that the risks of higher unemployment and higher inflation have risen."