Summary
Federal Reserve Chair Jerome Powell holds a news conference on interest rates. The Fed plans to keep its key short-term rate steady at about 3.6%, after cutting it three times last year.
Key Facts
- The Federal Reserve is holding a meeting focused on interest rates.
- Fed Chair Jerome Powell will speak at 2:30 p.m. EST on January 28.
- The Fed aims to keep its main interest rate at roughly 3.6%.
- Last year, the rate was cut three times by a quarter percentage point each time.
- The Fed is waiting to see how the economy develops before making more changes.
- Changes in the Fed's rate can affect borrowing costs for mortgages, auto loans, and business loans.
- President Donald Trump is likely to disagree with the Fed's decision.
