Live: Fed Chair Jerome Powell's FOMC Press Conference

Federal Reserve Chairman Jerome Powell's press conference following the Fed's March FOMC meeting and the expected hike to the fed funds rate. The market is expecting a 25 basis point rate hike. The Fed is attempting to thread the needle by fighting inflation without causing widespread chaos in the financial system. Although inflation has fallen considerably this year, it remains well above the Fed's 2% target. Yet at the same time, the central bank's quantitative tightening and interest rate hikes have set off a chain of events that has resulted in the failure of Silicon Valley Bank, Signature Bank, and most recently First Republic Bank. Any action The Fed takes to fight inflation would likely make things worse for the banking crisis. Conversely any action The Fed takes to fight the bank run would likely make inflation worse. The Fed's mythical "soft landing" remains elusive.

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