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Watch live: Jerome Powell holds press conference after Fed meeting on interest rates

Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, Wednesday, May 3, 2023, following the Federal Open Market Committee meeting. (AP Photo/Carolyn Kaster)

Federal Reserve Chairman Jerome Powell on Wednesday afternoon is slated to deliver remarks after the June Federal Open Market Committee meeting.

The Federal Reserve is on track to pause its rapid run of rate hikes. A steep May decline in inflation is likely to give the Fed enough room to announce a temporary halt to interest rates hikes, breaking a run that began in March 2022.

The event is scheduled to begin at 2:30 p.m. ET.

Watch the live video above.