The Dow Jones Industrial Average rose 17.15 points, or 0.04%, to end at 42,330.15, a record closing high. It is the index's 33rd record close of this year. The Dow rose 3211.29 points, or 8.21%, in the third quarter.

Powell is expected to elaborate on the Fed’s recent decision to cut its benchmark interest rate and on the considerations that will frame an expected series of reductions over the rest of this year an

A mistake by the U.S. central bank in setting interest rates during the last phase of its inflation battle is the main risk that could undercut the economy over the next year, according to a new survey of economists released as Federal Reserve Chair Jerome Powell was set to speak on Monday.