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  5. Fed keeps key interest rate unchanged after 3 straight rate cuts; read the full Powell-led FOMC statement

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Fed keeps key interest rate unchanged after 3 straight rate cuts; read the full Powell-led FOMC statement

Kamal Joshi
By Kamal Joshi

2 min read | Updated on January 29, 2026, 07:34 IST

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SUMMARY

Of the 12 Federal Open Market Committee (FOMC) members, two advocated another 0.25% rate cut, while 10 favoured keeping rates unchanged.

Fed Chair Jerome Powell-led FOMC said job gains have remained low. | Image: X/@FederalReserve

Fed Chair Jerome Powell-led FOMC said job gains have remained low. | Image: X/@FederalReserve

The US Federal Reserve on Wednesday, January 28, 2026, kept its key interest rate unchanged in the range of 3.50% to 3.75%, after three consecutive rate cuts last year. Fed Chair Jerome Powell said that the economic activity has been expanding at a solid pace.

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Of the 12 Federal Open Market Committee (FOMC) members, two advocated another 0.25% rate cut, while 10 favoured keeping rates unchanged.

The Committee said that it seeks to achieve maximum employment and keep inflation at 2% over the longer run.

Federal Reserve issues FOMC statement: Full text

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.
The Committee seeks to achieve maximum employment and inflation at the rate of 2% over the longer run. Uncertainty about the economic outlook remains elevated. The Committee is attentive to the risks to both sides of its dual mandate.
In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 3‑1/2 to 3‑3/4%. In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2% objective.
In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.
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About The Author

Kamal Joshi
Kamal Joshi is a business journalist who covers industries, markets, and IPOs. He is passionate about breaking news and enjoys playing tennis, especially flexing his backhand. He was previously associated with Republic TV and LatestLY.

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