Federal Reserve Releases FOMC Statement
January 28, 2026
The Federal Reserve's recent statement from the Federal Open Market Committee (FOMC) reveals critical insights about the current state of the economy. This announcement, scheduled for release at 2:00 p.m. EST, indicates that economic activity continues to grow at a robust pace, yet it also highlights some underlying concerns.
Recent data suggests that while there have been job gains, they have not been substantial, and the unemployment rate exhibits signs of stabilizing. However, inflation is still relatively high, which adds to the complexity of the economic landscape.
The primary objective of the Committee is to achieve maximum employment along with a long-term inflation rate of 2 percent. Despite this goal, there remains a significant degree of uncertainty regarding future economic conditions. The Committee is vigilant about the potential risks that could affect both sides of its dual mandate—employment and inflation.
To support these objectives, the Committee has decided to keep the federal funds rate within a target range of 3.5 to 3.75 percent. When contemplating any future adjustments to this rate, the Committee will meticulously evaluate incoming data, the evolving economic outlook, and the associated risks. Their commitment to fostering maximum employment and steering inflation back to its 2 percent target is unwavering.
In determining the most suitable monetary policy stance, the Committee will consistently review how new information impacts the economic forecast. They are ready to modify the policy approach if new risks emerge that could hinder achieving their goals. Their evaluations will consider a wide variety of factors, including labor market conditions, inflationary pressures and expectations, as well as financial and global developments.
The monetary policy decision was supported by voting members Jerome H. Powell (Chair), John C. Williams (Vice Chair), Michael S. Barr, Michelle W. Bowman, Lisa D. Cook, Beth M. Hammack, Philip N. Jefferson, Neel Kashkari, Lorie K. Logan, and Anna Paulson. However, Stephen I. Miran and Christopher J. Waller voted against maintaining the current target range, advocating for a reduction of the federal funds rate by 0.25 percentage points at this meeting.
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Implementation Note issued January 28, 2026.
Last Update: January 28, 2026.
