The economic forecast prepared by staff for the central bank's June policy meeting anticipated a mild US recession starting later in 2023
The S&P 500 index and the Dow Jones Industrial Average advanced, but the Nasdaq Composite closed lower.
Asian stocks traded higher on Tuesday as investors awaited the release of China's trade data for June.
Overseas, Asian stocks traded mixed on Wednesday, following overnight gains stateside that saw the tech-heavy Nasdaq Composite rising to a record high
IIP had contracted by an updated 0.9% in January after rising by 1.6% in December.
Powell said the Fed prefers to call crypto coins “crypto assets,” because their volatility undermines their ability to store value, a basic functi