Jennifer Schonberger

Another hot inflation reading reinforces that any near-term interest rate cuts are less likely, as the Federal Reserve shifts to a higher-for-longer stance.

Federal Reserve officials face a lot of questions as they convene for their two-day policy meeting this week, and investors are hoping Chair Jerome Powell will provide some answers.

The Fed is expected to keep interest rates at a 23-year high Wednesday, but investors will be listening for any signs of how long they will have to wait before cuts can begin.

The Fed is expected to keep interest rates at a 23-year high Wednesday, but investors will be listening for any signs of how long they will have to wait before cuts can begin.

The Federal Reserve will wrap up its two-day meeting on Tuesday afternoon, followed by a press conference with Chair Jerome Powell to discuss the Fed's decision regarding interest rates. The federal funds rate currently sits at its highest level in two decades, with many on Wall Street expecting the central bank to hold rates steady.

Chances are the Federal Reserve will likely hold interest rates where they are coming out of its May FOMC meeting today as Wall Street's hope for 2024 rate cuts fades lower.

The Federal Reserve left interest rates unchanged on Wednesday and reiterated plans to hold rates steady, noting there has been a lack of further progress on inflation returning to its 2% target.

The Federal Reserve Open Market Committee is keeping its federal funds target range to 5.25% to 5.50%. In its statement, members say, "Inflation has eased over the past year but remains elevated.

The Federal Reserve left interest rates unchanged on Wednesday and reiterated plans to hold rates steady, noting there has been a lack of further progress on inflation returning to its 2% target.

Federal Reserve officials have voted again to hold interest rates steady . Yahoo Finance Federal Reserve reporter Jennifer Schonberger joins Market Domination to provide an in-depth analysis of Federal Reserve Chair Jerome Powell's press conference. Schonberger highlights a notable shift in Powell's previously dovish messaging, with the Fed official emphasizing more progress on the inflation front will be needed before embarking on a rate-cutting cycle.