Powell said that Fed staffers believe federal data could be overstating job creation by up to 60,000 jobs a month—which suggests the jobs market might be shrinking.

The end of Jerome Powell’s term as Fed chair will give President Trump his biggest opportunity yet to reshape the central bank.

Jerome Powell refused to comment on President Donald Trump's search for his Federal Reserve replacement, saying the process doesn't affect his current chair role.

Federal Reserve Chair Jerome Powell downplayed dissenting votes against Wednesday’s decision to lower interest rates again, but a slew of finer details from the meeting revealed just how divided the central bank has become.

The chair of the central bank is dealing with internal divisions while being besieged by President Trump and front-runners jockeying to replace him.

Federal Reserve officials have voted to cut interest rates by 25 basis points at their December FOMC meeting on Wednesday, lowering rates to a range of 3.5 to 3.75%. The announcement was followed by a press conference with Fed Chair Jerome Powell,

Federal Reserve Chair Jerome Powell admitted on Wednesday that there is still no "risk-free" path for the central bank as it seeks to bring down stubbornly high inflation while also supporting an increasingly creaky labor market.

U.S. Federal Reserve Chair Jerome Powell walks as he attends to hold a press conference following a two-day meeting of the Federal Open Market Committee (FOMC), at the U.S. Federal Reserve in Washington, D.C., U.S., December 10, 2025. REUTERS/Kevin Lamarque

As Wednesday's Fed decision approaches, investors have coalesced around the expectation that Federal Reserve Chairman Jerome Powell will deliver another rate cut, but stop short of promising more reductions early next year.

The Federal Reserve cut its influential fed funds rate this afternoon for the third time in as many meetings. Follow along with our live coverage of the Fed meeting.