The Federal Reserve cut interest rates Thursday after its two-day meeting. Chair Jerome Powell held a news conference following the decision. You can watch it here:

Federal Reserve Chair Jerome Powell is giving remarks Thursday afternoon, as the Biden administration prepares to cut interest rates for a second time. The decision comes after the administration announced late last month that price increases have fallen to their lowest level in more than three years.

Just days after the U.S. election, the Federal Open Market Committee is set to conclude its two-day meetings that began on Wednesday and deliver a decision on interest rates. The FOMC, which sets rate policy,