Fed Maintains Rates, Keeps Sights Set On 2% Inflation Target

The Fed says the economic outlook is uncertain and that it remains highly attentive to inflation risks.

US Federal Reserve Chair Jerome Powell speaking at podium with american flags and fed seal in the background
(Image credit: BRENDAN SMIALOWSKI/AFP via Getty Images)

The nation’s benchmark interest rates will hold steady at the current 5.25% to 5.5% range as the inflation target of 2% remains the goal, the Federal Open Market Committee (FOMC) announced today (January 31).

“The committee judges that the risks to achieving its employment and inflation goals are moving into better balance. The economic outlook is uncertain, and the committee remains highly attentive to inflation risks,” the FOMC, the central bank’s rate-setting group, said in a statement at the end of its two-day monetary policy meeting. This is the fourth consecutive meeting in which the FOMC has left rates unchanged. 

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Esther D’Amico
Senior News Editor

Esther D’Amico is Kiplinger’s senior news editor. A long-time antitrust and congressional affairs journalist, Esther has covered a range of beats including infrastructure, climate change and the industrial chemicals sector. She previously served as chief correspondent for a financial news service where she chronicled debates in and out of Congress, the Department of Justice, the Federal Trade Commission and the Commerce Department with a particular focus on large mergers and acquisitions. She holds a bachelor’s degree in journalism and in English.