This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policymaking meeting on Dec. 14.

Text removed from the December statement is in red with a horizontal line through the middle.

Text appearing for the first time in the new statement is in red and underlined.

Black text appears in both statements.

Watch Fed Chair Jerome Powell's press conference here.

Also on CNBC

• White House likely to tap Brainard, Bernstein as top economic advisors: Sources
• 3 investing lessons from the Club’s meeting Wednesday
• Here's everything the Fed is expected to do Wednesday

Subscribe to the CNBC YouTube Channel

Morning Squawk Newsletter