Five Questions for Jerome Powell, the Fed Chair

Andrew here. Jay Powell, the Fed chair, will take questions from reporters on Wednesday after the central bank announces its decision on interest rates. We’ve got some, too; see what we would ask below.

Also: DealBook’s Michael de la Merced has news about a new A.I. start-up investment deal — and, more important, how these transactions let employees sell their stock long before an I.P.O. And Peter Eavis takes a look at Union Pacific’s plan to merge with Norfolk Southern in a $72 billion deal and whether regulators will approve it.

Powell on the spot

It’s decision day for the Fed. The central bank is widely expected to leave borrowing costs unchanged after policymakers voted to cut interest rates at the past three meetings.

But it’s the news conference with Jay Powell, the Fed chair, that Wall Street and Washington are waiting for. Pay attention to Powell’s assessment of the economy — and whether he says anything about President Trump’s escalating pressure on him and his colleagues.

Here’s what we would ask him:

What’s going on with the federal criminal investigation? This month, Powell accused the Trump administration of using threats of a criminal investigation into him — ostensibly over testimony he gave to Congress about renovations of the Fed’s headquarters — as “pretexts” to push the central bank into lowering rates.

Powell and his allies are worried about inflation. Many analysts expect policymakers to keep rates steady for a while.