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Fortune
Fortune
Eleanor Pringle

The Fed and chair Powell are 24 hours away from making market-moving news. Here’s what to expect

Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting. (Credit: Andrew Harnik—Getty Images)

The table is set, the agenda prepared. Tomorrow afternoon Federal Reserve chair Jerome Powell will hold a press conference following the central bank's Federal Open Market Committee (FOMC) meeting, and reveal whether the group has decided to lower the base interest rate.

It would be the first time in more than four years that Powell will have made such an announcement, with the group previously voting to continually hike or hold the interest rate to wrestle inflation under control.

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