Federal Reserve Meeting Press Conference Live Streaming: Watch Today's Fed Interest Rate Hike Discussion Online

The Federal Reserve announced Wednesday it has increased the short-term interest rate by 0.25 percent, as expected.

Here's the Fed's statement: "In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 2 to 2-1/4 percent. meets today and will likely raise interest rates for a third time this year, with possible modifications on the plan ahead for interest rates beyond 2018."

How the Fed committee reads the strength of the U.S. economy and its prognosis will determine the Fed's direction from this point on future rate hikes. See below to watch a live stream of today's Federal Reserve meeting press conference below at 2:30 p.m. ET when they are expected to discuss the economy and hint at a future direction.

Read more here about how high interest rates may go.

U.S. stocks rose on Wednesday after the Federal Reserve raised rates since the move was expected. The Dow Jones Industrial Average traded 88 points higher soon after the mid-day news, while the S&P 500 gained 0.4 percent. The Nasdaq Composite advanced 0.5 percent.

The Fed raised its target overnight a range to 2 percent to 2.25 percent, up from 1.75 percent to 2 percent. It is the eighth rate hike since 2015. Previously, the Fed hinted at four rate hikes this year. Today's was the third, with another expected in December -- likely putting its lending rate at 2.50 into 2019.

With recent U.S. economic growth and a stabilized economy, the Fed is working to get back to the neutral ground or higher on interest rates after dropping them to 0.25 for seven years to help the economy pull out of the recession. But while recent signs on unemployment and jobs are bullish for the economy there's some question about how tariffs and other factors will impact in 2019 and 2020.

Chairman Jerome Powell will hold the press conference at 2:30 p.m. ET (in the video above) that will likely shed more light on how the Fed sees its role going forward.

"Should neither Powell nor the Fed itself clarify expectations for the months ahead, it could be because the policymakers are sharply divided and are coalescing into two familiar opposing groups — 'hawks' and 'doves'" the Associated Press reported.

"Doves focus on the Fed's mandate to maximize employment and worry less about inflation. Hawks tend to concern themselves more with the need to prevent high inflation. One Fed board member, Lael Brainard, a leading dove, earlier this month surprised some with a speech that emphasized her belief in the need for continued gradual rate hikes."