The Fed Keeps Interest Rates Unchanged

The U.S. Federal Reserve (Fed) keeps interest rates unchanged in its first policy meeting of the year, just as market forecasts predicted.
On January 28, after a two-day policy meeting, the Fed decided to keep the benchmark interest rate at 3.5-3.75%. This move comes after the Fed adjusted monetary policy three times last year. Some Fed officials recently stated that they want to see the impact of these rate cuts before considering further action.

"Economic activity continues to grow at a solid pace," the Fed stated in its January 28 announcement. Additionally, inflation "remains accelerating," and the labor market "shows some signs of stabilization."

Although the Fed assesses "job growth is still low," it no longer perceives risks from a rapidly accelerating labor market. This indicates that officials are less concerned about a swift slowdown in the labor market.
Meanwhile, gold prices continued to rise strongly, gaining $235 to reach $5,414. The rally extended into the morning of January 29, with prices reaching $5,585 per ounce.
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