US Fed Meeting 2026 LIVE: No rate cut today! Jerome Powell-led FOMC keeps rates unchanged at 3.50-3.75% | Stock Market News

“We haven’t lost it,” Powell said of Fed independence. “I don’t believe we will. I certainly hope we won’t.”

“Geopolitical risk for us is a lot of it is around energy, oil. And so far, with all the turmoil, oil prices have come down, as you know, and so we don’t really see much,” Powell said.

“You hear large companies, though, saying that they either won’t be hiring for some time, or that they’re hiring less, or they’re throwing people off, and they tend to refer to AI when they do that. So we’re all watching and learning, and it could certainly have pretty significant effects on the economy, the workforce in our society,” Powell said.

The US dollar held gains against the euro and yen on Wednesday after the Federal Reserve maintained steady interest rates, citing persistent inflation and strong economic growth.

“Most of the overrun in goods prices is from tariffs. And that’s actually good, because if it weren’t from tariffs, it might mean it’s from demand, and you know, that’s a harder problem to solve. We do think tariffs are likely to move through and be a one-time price, so most of the overshoot, if if you were to take that out, you’d get and you would, I mean inflation, core PCE, inflation is running just a bit above 2% x the effects of tariffs on goods,” Powell said.

Not made a decision on future rate cuts, Powell says.

“Fed has been assigned two goals for monetary policy, maximum employment and stable prices. We remain committed to supporting maximum employment, bringing inflation sustainably to our 2% goal and keeping longer term inflation expectations well anchored,” Powell said.

“A good part of the slowing in the pace of job growth over the past year reflects a decline in the growth of the labour force due to lower immigration and labour force participation, though labour demand has clearly softened, as well as other indicators, including openings, layoffs, hiring and nominal wage growth show little change in recent months,” Powell said.

“Our monetary policy actions are guided by our dual mandate to promote maximum employment and stable prices for the American people,” Powell.

“The temporary shutdown of the federal government likely weighed on economic activity last quarter,” Powell said.

“Available indicators suggest that economic activity has been expanding at a solid pace. Consumer spending has been resilient, and business fixed investment has continued to expand. In contrast, activity in the housing sector has remained weak,” Powell said.

Federal Reserve Chair Jerome Powell’s address has begun.

Federal Reserve Chair Jerome Powell’s address will begin soon.

Powell’s press conference will be live-streamed on the U.S. Federal Reserve’s website: https://www.federalreserve.gov/.

The speech will also be broadcast live on the Federal Reserve’s official YouTube channel on Wednesday — https://www.youtube.com/federalreserve.

Steady interest rates were favoured by Jerome Powell, John Williams, Michael Barr, Michelle Bowman, Lisa Cook, Beth Hammack, Philip Jefferson, Neel Kashkari, Lorie Logan and Anna Paulson.

Stephen Miran and Christopher Waller voted to lower the target range for the federal funds rate by 1/4 percentage point at this meeting.

The Federal Reserve plans to carefully assess incoming data, the evolving outlook, and the balance of risks.

“Available indicators suggest that 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,” FOMC said.

The US Federal Reserve has announced no change to its benchmark interest rate, which is currently in the range of 3.50-3.75%.

People around the world are awaiting the US Federal Reserve FOMC’s two-day policy meeting outcome, which will determine the key interest rates for the US economy.

In the last FOMC meeting, it was decided to cut its key benchmark interest rates by 25 basis points.

Jerome Powell’s press conference will live stream on the U.S. Federal Reserve’s website: https://www.federalreserve.gov/.

The speech will also be broadcast live on the Federal Reserve’s official YouTube channel on Wednesday — https://www.youtube.com/federalreserve.

People are awaiting the US Federal Reserve’s first policy decision of the year, which the central bank will announce at 12:30 a.m. (IST), which will be one hour later than usual due to the Daylight Saving Time (DST) in the United States.

In the US, people will be able to see the Fed’s policy outcome at 2:00 p.m. (EDT), as per the official data.

Although the US Federal Reserve cut its key interest rate by 25 basis points on 10 December 2025, for the third time in 2025, the 3.50% to 3.75% interest rate came on the backdrop of elevated inflation in the US economy and slowing job growth in the country.

“Job gains have slowed this year, and the unemployment rate has edged up through September. More recent indicators are consistent with these developments. Inflation has moved up since earlier in the year and remains somewhat elevated,” said the FOMC on 10 December 2025.

At the December FOMC meeting, Federal Reserve Chair Jerome Powell said that the current overshooting of the central bank’s 2% inflation target is mostly due to President Donald Trump’s import tax hikes.

“It’s really tariffs that are causing most of the inflation overshoot,” Powell said after the last Fed meeting.

According to December 2025 data, the unemployment rate in the United States stands at 4.4%.

As of November 2025, the inflation rate in the United States stands at 2.8%, higher than the Fed’s target range of 2%.

Since the Federal Reserve has a dual mandate to promote maximum employment and stable prices for the American people, policymakers keep a close watch on the unemployment rate. This helps them determine whether the US economy is near or at maximum employment and guides decisions on the appropriate interest rates to support employment while ensuring price stability.

The Federal Reserve seeks to achieve inflation of 2% over the longer run, as measured by the annual change in the price index for personal consumption expenditures (PCE).

Federal Reserve policymakers keep a close eye on inflation rates and modify monetary policies to aim for their target, all while supporting the objective of maximum employment. The central bank has the a dual mandate to promote maximum employment and stable prices for the Americans.

Any change to the key interest rates impacts short-term interest rates across various financial assets. These changes influence the spending choices of households and businesses, thereby affecting overall economic activity, employment levels, and inflation rates.

The Federal Open Market Committee (FOMC) sets a target range for the key in. The FOMC has eight regularly scheduled meetings each year and announces its policy decisions at 2 pm (ET) on the second day of each meeting.

US Federal Reserve Governor Stephen Miran on Tuesday said he sees the need for a substantial rate cut in 2026, advocating a larger decrease than the central bank has so far indicated, according to AFP.

Financial markets generally expect the Fed to maintain interest rates at current levels until its June meeting, according to CME FedWatch.

Economists anticipate policymakers will keep rates steady as they evaluate the impact of the three consecutive rate cuts that reduced the benchmark lending rate to a range of 3.50% to 3.75%, AFP reported.

The euro fell against the dollar on Wednesday as traders awaited the US Federal Reserve’s latest interest rate decision, AFP reported.

The FOMC meeting is scheduled for January 27–28. The policy statement will be released at 2 pm ET on January 28, followed by a press conference with Powell.

Jerome Powell’s press conference address will live stream on the US Federal Reserve’s website: https://www.federalreserve.gov/.

His speech will also be broadcast live on the Federal Reserve’s official YouTube channel – https://www.youtube.com/federalreserve.

US Fed Meeting 2026 LIVE: US Federal Reserve Chairman, Jerome Powell in his address to the press after the December 2025 policy announcement said that the central bank is not looking to hike its key interest rates anytime soon amid the overall closer to neutral stance, in line with its dual mandate.

“I don’t think that a rate hike is anybody’s base as the next thing is anybody’s base case at this point, I’m not hearing that. What you see is some people feel we should stop here and that we’re at the right place and just wait,” said Powell during his press address.

US Fed Meeting 2026 LIVE: Nine out of the 12 federal open market committee (FOMC) members voted in favour of the US Fed’s policy decision to cut the key interest rates.

One official out of the remaining three was seeking a 50 basis point rate cut, while the other two wanted to keep the interest rates unchanged at their previous levels.

The key benchmark interest rates were cut by 25 basis points to the range of 3.50% to 3.75% after the December 2025 policy outcome.

U.S. stocks rose in early trading on Wall Street, with the S&P 500 surpassing 7,000 for the first time ahead of the Federal Reserve’s interest rate decision and earnings announcement from major companies like Microsoft, Tesla, and Meta Platforms.

Trump has significantly increased pressure on the Fed since returning to the White House a year ago, primarily to cut rates, raising questions about the independence of the central bank.

The Federal Reserve is expected to keep interest rates steady this time amid solid GDP growth, relatively low unemployment, and current inflation levels, which have given them reason to shift into a wait-and-see mode, AFP reported.

It is widely anticipated that the central bank will leave interest rates unchanged, despite President Donald Trump’s urging for more cuts, AFP reported.

Gold, a safe-haven asset, generally performs well during times of low interest rates and increased uncertainty. It has risen by more than 20% since the beginning of the year, continuing the record gains seen last year.

Inflation remains persistently above the Fed’s 2% target, and decreasing interest rates might further raise prices for U.S. consumers while supporting economic growth. Traders expect the Fed to resume rate cuts later this year, AP reported.

On Tuesday, US President Donald Trump said that he would soon announce his pick to replace Powell, whose term as chair ends in May, Reuters reported.

Gold prices rose above $5,300 per ounce on Wednesday for the first time, boosted by economic uncertainty and a weakening U.S. dollar, as investors awaited the Federal Reserve’s policy decision amidst growing concerns about its independence, Reuters reported.

In India, the FOMC decision will be announced on Thursday, 29 January at 12:30 am (IST), an hour later than usual due to Daylight Saving Time in the US. Meanwhile, Federal Reserve Chair Jerome Powell’s remarks after the FOMC policy decision will be streamed at 1:00 am (IST) on Thursday, as per the official schedule.

“It’s really tariffs that are causing most of the inflation overshoot,” Powell said after the December Fed meeting, reiterating his expectation that the tariff impact on inflation is likely to be a “one-time price increase.”

This week’s meeting is the Fed’s first in 2026, a year marked by major transitions. A new chair is expected after Powell’s term concludes in May amid growing political pressure.

As Jerome Powell’s tenure as Fed Chair ends soon, Trump was questioned on whether he would remain at the US central bank as its governor for another two years.

“We live with the cards you’re dealt,” he said. “If that happens, his life won’t be very, very happy, I don’t think, by doing it. I think he wants to get out. He has not done a good job,” Trump told CNBC.

At the October FOMC meeting, the US Federal Reserve decided to cut the key interest rate by 25 basis points to the range of 3.75% to 4.00%, for the second time in the calendar year, amid elevated inflation and the US government shutdown.