Fed Chair Jerome Powell holds press conference: Watch live

Federal Reserve Chair Jerome Powell on Wednesday afternoon is slated to hold a press briefing.

Inflation has fallen from its peak of above 9 percent in June 2022 to 3.1 percent in November, according to the latest consumer price index released Tuesday by the Labor Department. That number is still above the Fed’s 2 percent inflation target, but it is moving closer to the Fed’s goal.

The Federal Reserve opted to keep interest rates steady Wednesday.

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

Watch the live video above.