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Watch live: Powell holds press conference as Fed expected to raise interest rates

Federal Reserve Chairman Jerome Powell speaks during a news conference at the Federal Reserve Board building in Washington, Wednesday, July 27, 2022. (AP Photo/Manuel Balce Ceneta)

Federal Reserve Chairman Jerome Powell will on Wednesday afternoon hold a press briefing at which he is expected to announce a raise in interest rates.

The briefing is slated for 2:30 p.m. ET.

Watch the live video above.