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Watch Fed Chairman Jerome Powell's news conference live

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Federal Reserve Chairman Jerome Powell meets with the media Wednesday to discuss action taken at this week's Federal Open Market Committee meeting. The FOMC sets monetary policy for the central bank.

The Fed has come under scrutiny in recent months for its efforts to normalize monetary policy after keeping its benchmark interest rate anchored near zero for seven years. In particular, President Donald Trump has been a hash critic and has indicated that he regrets nominating Powell to the seat.

Starting in 2019, Powell will begin holding news conferences after each meeting rather than on a quarterly basis as has been practice. The sessions usually last about an hour.

Read more:
Trump makes one last try to get the Fed to ease up, but it likely won't work
Fed needs to take 'wait-and-see' approach to rate hikes for stocks to get a 'sustained' rally: Cramer
Former Fed Chair Yellen says excessive corporate debt could prolong a downturn

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