Watch live: Fed Chair Jerome Powell speaks after expected interest rate cuts

Federal Reserve Chair Jerome Powell is giving remarks Thursday afternoon, as the Biden administration prepares to cut interest rates for a second time.

The decision comes after the administration announced late last month that price increases have fallen to their lowest level in more than three years. The Fed cut rates by half a point in September, marking the central bank's first rate-reduction during a 2 1/2 year battle against inflation in the wake of the COVID-19 pandemic.

Future adjustments, however, are now uncertain, after Donald Trump won a decisive victory in the 2024 election. His economic proposals have been flagged by financial experts as having the potential to raise inflation and deficits.

Powell is scheduled to speak at 2:30 p.m. EST.

Watch the live video above.