Powell's more than six years as Fed chief have ... change how the federal government implements financial policy," said David Beckworth, a senior research fellow at George Mason University's ...

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The Federal Reserve's latest interest-rate decision is expected at 2 p.m. ET today. Then Fed Chair Jerome Powell takes the stage.

Despite the challenges, Powell struck a confident tone about the Fed's ability to bring inflation sustainably back to its 2% target. "We're not going to settle for anything less than 2%," Powell said.