Follow along to MarketWatch's live coverage of the Federal Open Market Committee interest-rate decision and the press conference with Chair Jerome Powell.
Hey, this is Jeffry Bartash, economics reporter at MarketWatch. I am here with economics editor Greg Robb, our chief Fed watcher. At every FOMC meeting, the press is allowed into a special room at the Fed's main building in downturn Washington, D.C. We pass through a few security checks and get set up an hour or so before the Fed publicly announces its decision on interest rates. The decision is announced at 2 p.m. Eastern. We reporters are cut off from internet access at 1:30 p.m.
Hence the 'Fed lockup.' We are given a press release on the Fed decision 30 minutes before the public and are allowed to write our articles. At 2 p.m. on the dot, we are allowed to publish. Greg will head off a few minutes later to another large room at the Fed where Chairman Powell will field questions from the media at 2:30 p.m. Once the press conference ends, we all head back to our offices and flesh out our initial stories.
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