The Fed just announced a big change to how it communicates with America

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jerome powellChip Somodevilla/GettyFederal Reserve Board Chairman Jerome Powell testifies before the House Financial Services Committee in the Rayburn House Office Building on Capitol Hill February 27, 2018 in Washington, DC. Powell testified abou the Federal Reserve's semi-annual monetary policy report to Congress and the state of the economy

Federal Reserve Chairman Jerome Powell announced Wednesday that he will hold press conferences after every policy meeting from January 2018.

Powell was speaking at a press conference after the Fed announced its decision to raise interest rates. Traditionally, rates are only hiked at meetings with press conferences so that the chair has the opportunity to explain the decision. But press conference after every meeting would give the Fed more room to make decisions as the economy warrants, and to be less choreographed.

The Wall Street Journal reported on the change earlier this week.

More to come, refresh this page for updates.

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