Charles Krupa/AP

The Federal Reserve concluded its first meeting of the Trump era Wednesday, announcing its decision to keep short term interest rates unchanged at between 0.5% and 0.75%.

Why it matters: The fed funds rate is Fed Chair Janet Yellen's primary tool for achieving its goals of low unemployment and inflation. With the unemployment rate below historical averages, and inflation creeping closer to the central bank's 2% goal, the Fed will most likely raise rates more than twice in 2017, which would make it the first year of multiple hikes since the recession.

What's next: The fed funds futures market is placing at 37.1% chance on Yellen raising rates at the next meeting in March. The Fed gave no indication of when the next hike may be, so pay attention to the data, like Friday's jobs report. If job growth is strong, the chances of a hike at the next meeting in March will increase.

Go deeper

Former officer who shot Breonna Taylor indicted on wanton endangerment

A memorial to Breonna Taylor in downtown Louisville, Kentucky on Sept. 23. Photo: Jeff Dean/AFP via Getty Images

A grand jury has indicted Brett Hankison, one of the Louisville police officers who entered Breonna Taylor's home in March and shot her at least eight times, on three counts of wanton endangerment.

The state of play: None of the three officers involved in the botched drug raid will face charges related to the actual death of Taylor, such as homicide or manslaughter. The two other officers, Jonathan Mattingly and Myles Cosgrove, were not charged at all. Hankison's bond was set at $15,000.

FDA chief vows agency will not accept political pressure on coronavirus vaccine

Food and Drug Administration Commissioner Stephen Hahn promised that "science will guide our decision" for a coronavirus vaccine at a Senate hearing on Wednesday.

Why it matters: More Americans are expressing doubt about a first-generation vaccine, despite President Trump's efforts to push an unrealistic timeline that conflicts with medical experts in his administration.

CEO confidence rises for the first time in over 2 years

Data: Business Roundtable; Chart: Naema Ahmed/Axios

A closely-watched CEO economic confidence index rose for the first time after declining for nine straight quarters, according to a survey of 150 chief executives of the biggest U.S. companies by trade group Business Roundtable.

Why it matters: The index, which still remains at a decade low, reflects corporate America's expectations for sales, hiring and spending — which plummeted amid uncertainty when the pandemic hit.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!