Jerome Powell

Economists anticipate the U.S. central bank to lower it by a modest 25 basis points.

Trump's top economic adviser has a big ask for the Federal Reserve.

Boeing, Facebook and Tesla are among the firms poised to release financial results through June.

Powell, during a speech in Paris on Tuesday, paved the way for a rate cut in a few weeks.

The president frequently attacks the Fed, and its chairman Jerome Powell, for not keeping interest rates lower.

The report, prepared by the Federal Reserve Bank of St. Louis, was based on information collected through July 8. 

Wall Street also noted the less-than-spectacular quarterly results of several major corporations.

In prepared remarks delivered at a conference in Paris, Powell laid out the case for easier monetary policy.

Higher interest rates could undermine earnings at JPMorgan Chase.

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Although Wall Street was already pricing in a 100 percent chance of easier monetary policy, the news still sent stocks soaring.

Investors continue to remain optimistic that the Fed will cut rates after Chairman Jerome Powell's testimony on Capitol Hill this week.

Powell agreed, however, that increased severe weather posed a risk to the institutions he supervises. 

Investor sentiment was also buoyed by optimism that the Federal Reserve will cut interest rates at their July 31 meeting.

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Minutes from the June 18-June 19 Federal Open Market Committee were published Wednesday.

"My answer would be no," he said, during his Wednesday testimony on Capitol Hill. 

The cryptocurrency platform raises concerns on money laundering, consumer protection and financial security, Powell said.

Stocks curbed losses on Powell's dovish pivot. 

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