>> This could be one of the last time Federal Reserve Chair Janet Yellen walks out to this desk. And if it is, she'll be leaving the world's most powerful central bank in good shape. The Fed wrapping up a two-day meeting Wednesday with no change in interest rates as the US economic recovery chugs along.
Reuter's Federal Reserve correspondent Jonathan Spicer.>> You look at the economy itself in the last couple of quarters growing around 3%, that magic rate for the white house. Unemployment is down to 16 year low 4.2%. She'll probably have one of the best terms as Fed chair historically looking at the data.
Importantly, she has started to roll back the balance sheet. That's four and a half trillion dollars that she wants to shrink down. And that is a huge step in terms of monetary policy, and one that really hasn't been tested by a major central bank like this.>> And there's a stat even more impressive for Wall Street.
The widely followed S&P 500 stock market index has soared 45% under her watch. The Fed upgrading its assessment of the economy Wednesday. Quote, economic activity has been rising at a solid rate despite hurricane-related disruptions. Now, when is the last time you heard the words solid and economy in the same sentence?
>> If we didn't know already, we are not very much expecting another rate hike in December. That would make three for this year. More or less what the Fed was predicting at the beginning of the year, and possibly three more next year.>> Three more, even if Yellen is not reappointed.
Sources say President Trump will likely nominate Fed governor Jerome Powell to her job as early as Thursday. And Powell is expected to stay the course. Yellen's term is up in February.