Archive · 29 Jan 2026
Fed Holds Rates Steady Amid Economic Growth
The Federal Reserve, led by Jerome Powell, decided to keep interest rates the same at 3.5% to 3.75%.
This decision is expected to be uneventful, even though President Donald Trump might not be happy.
Powell will have a news conference later to explain the decision.
The Fed is also being investigated by the Justice Department for something Powell said last year about a big building project.
Powell says this investigation is not fair and is trying to make the Fed do what Trump wants.
The economy is doing well, so the Fed doesn't think it needs to lower rates right now.
They already lowered rates three times last year to help the economy.
Trump has been putting a lot of pressure on the Fed to cut rates more, but the Fed wants to wait and see how the economy does.
A governor appointed by Trump, Stephen Miran, wants bigger rate cuts than the Fed has planned.
Federal Reserve keeps interest rates unchanged at 3.5% to 3.75%.
Fed Chair Jerome Powell to hold a news conference at 2:30 p.m. EST on January 28.
Justice Department investigating Powell's testimony on a $2.5 billion building renovation.
Powell emphasizes that interest rate decisions are based on economics, not politics.
Strong economic growth reduces urgency for further rate cuts, despite Trump's pressure.
- Who
- Federal Reserve, Jerome Powell, Donald Trump, Stephen Miran, Christopher Waller
- What
- Fed holds interest rates steady, faces legal scrutiny and political pressure
- When
- January 28, 2026
- Where
- United States
- Why
- Strong economic growth, legal investigation into Fed Chair's testimony, political pressure from Trump
- Current Interest Rate
- 3.5% to 3.75%
- Fed Chair
- Jerome Powell
- Meeting Date
- January 28, 2026
- News Conference Time
- 2:30 p.m. EST
- Economic Growth (Q3 2025)
- Solid pace
- Rate Cuts in 2025
- 3
- Inflation Target
- 2%
- Dissenting Votes
- Stephen Miran, Christopher Waller
- Market Expectations
- No rate change until June meeting
- Trump-Appointed Governor
- Stephen Miran
Sources
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