Fed Holds Interest Rates Steady

Despite pressure from Washington

Key highlights:

• The Federal Reserve held interest rates steady Wednesday as expected, but two governors dissented, preferring a quarter-point cut.

• It’s the first time since July that the central bank has chosen to pause its rate-cutting cycle, having lowered rates three times last year as it monitored the economic effects of President Donald Trump’s aggressive policies.

• Federal Reserve Chair Jerome Powell’s 2:30 p.m. press conference will bring intense interest today, since it marks the first time he will speak after his extraordinary rebuke of the Trump administration earlier this month. On January 11 he announced that he is under federal investigation, saying the criminal probe is a “pretext” meant to intimidate the central bank into cutting rates to the president’s liking.

https://www.cnn.com/business/live-news/federal-reserve-interest-rate-01-28-2026