Instead of interest rates, Powell may talk about the Fed’s review of its monetary policy framework—how it balances employment and price stability.

Powell said Thursday that longer-term interest rates are likely to be higher as the economy changes and policy is in flux.

The Fed Chair leads the Federal Reserve’s Board of Governors and chairs the Federal Open Market Committee, setting the course for U.S. monetary policy—everything from interest rates to quantitative easing.

The Federal Reserve’s interest rate setting committee held rates steady Wednesday at a range of 4.25 percent to 4.5 percent, despite calls from President Trump to lower borrowing costs amid price

Federal Reserve Chair Jerome Powell addresses the Economic Club of Chicago at a luncheon at the Hilton last month in Chicago. Powell shared his view of the current state of the U.S. economy, saying that the country’s debt is “on an unsustainable path, not at an unsustainable level.” Audrey Richardson Chicago Tribune/TNS

Federal Reserve Chair Jerome Powell reiterated the need for a wait-and-see approach during a press conference following the committee's policy announcement.

The Federal Reserve chair once again refused to lower key interest rates as economic uncertainty around Trump's tariff scheme has slowed the American economy. Powell cited that very same uncertainty as his reasoning for keeping rates consistent during a press conference on Wednesday.

Explore why the Fed is holding off on rate cuts despite inflation concerns, manageable unemployment, and political pressure.