Federal Reserve Chair Kevin Warsh says a new task force will study how artificial intelligence could affect the US economy, productivity, jobs and future monetary policy.

US stock index futures pointed to a higher opening on Wednesday as crude oil prices declined and investors awaited the Federal Reserve’s interest rate decision later in the day. The indicated rebound followed two consecutive sessions of losses that pushed the S&P 500 to its lowest closing level in more than a month.

A substitute text adopted before the vote strips out the Federal Reserve funding routes and thins the transparency rules.

What will the US Federal Reserve’s rate hike mean for local markets? The Fed’s 25-basis-point rate hike – its first since 2023 – was largely but not wholly priced in by markets already. The decision by the 12-member Federal Open Market Committee was approved unanimously and was in line with market expectations.

Trump urges lower rates after central bank agrees increase by quarter-percentage point to range of 3.75% to 4%

Following the release of the rate decision and monetary policy statement, Federal Reserve Chair Kevin Warsh will conduct his post-meeting press conference thirty minutes thereafter at 2:30 p.m. Eastern Time (12:00 a.m. Indian Standard Time on September 17).

The greenback rose to a six-week high against the Canadian dollar after the US Federal Reserve raised interest rates by 25 basis points, the first time since July 2023. The move was widely expected. In its statement,

The US Federal Reserve is expected to announce its first interest rate hike since 2023, with markets pricing in a 25 basis point increase. Investors are tracking the Fed interest rate decision, Chair Kevin Warsh’s comments and the central bank’s inflation and rate forecasts for clues on US interest rates,