WATCH LIVE: Fed chair Jerome Powell holds news conference on interest rates 

Federal Reserve Chairman Jerome Powell is slated to hold a press conference Wednesday to discuss interest rates.
Federal Reserve officials will likely scale back plans for interest rate cuts amid stubborn inflation lingering above the Fed's 2 percent target.
In March it was expected that the Fed would cut its benchmark rate three times by year's end, but many expect policymakers to forecast two cuts instead.
The event is scheduled to begin at 2:30 p.m. EDT.
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