Fed keeps interest rates unchanged
January 29, 2026 / By ICBA
The Federal Open Market Committee voted to maintain target interest rates at 3.50% to 3.75% following three consecutive 25-basis-point cuts.
Statement: The FOMC said:
Economic activity has been expanding at a solid pace.
Job gains have remained low, and the unemployment rate has shown some signs of stabilization.
Inflation remains somewhat elevated.
Dissenting Votes: Voting against the action were Stephen Miran and Christopher Waller, who preferred to lower the target range for the federal funds rate by 25 basis points.
More: The FOMC also unanimously reaffirmed its Statement on Longer-Run Goals and Monetary Policy Strategy, often known as the consensus statement, which articulates its approach to monetary policy.
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