The projections are a snapshot of individual committee members' best guesses on the future of unemployment, inflation and rate cuts. Economists expect that the average prediction will be three rate cuts in 2025, fewer than were expected when they last published their expectations in September.

The Federal Reserve's Jerome Powell weighed in on the state of the U.S. economy after announcing another cut to the interest rate. CBS News business analyst Jill Schlesinger has more on what's expected next.

Federal Reserve Chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to stockpile large amounts of bitcoin.

Federal Reserve Chair Jerome Powell has ruled out the possibility of the central bank adding Bitcoin to its balance sheet, citing legal restrictions under the Federal Reserve Act. Powell addressed the issue during a Dec.

Federal Reserve Chairman Jerome Powell said the U.S. central bank has no desire to hold the cryptocurrency Bitcoin amid debate over whether the incoming Trump administration might build some sort of government owned stock of the asset.