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Fed holds interest rates steady despite heavy pressure from Trump
The Guardian
|January 29, 2026
The US Federal Reserve left interest rates unchanged after its first rate-setting meeting of the year last night, resisting enormous pressure from the White House to lower rates.
A majority of members in the Fed's federal open market committee (FOMC) voted to pause interest rate cuts after slashing rates three times last autumn. Rates currently sit at a range of 3.5% to 3.75%.
The Trump administration has put unprecedented pressure on the Fed chair, Jerome Powell, to cut rates, with Donald Trump launching personal attacks on Powell and the justice department opening a criminal investigation into his handling of the refurbishment of the Fed's offices.
Esta historia es de la edición January 29, 2026 de The Guardian.
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