PANews reported on January 29th that, according to the People's Daily, the latest minutes of the Federal Open Market Committee (FOMC) monetary policy meeting held by the Federal Reserve on January 28th local time showed that the Fed decided to maintain the target range for the federal funds rate between 3.5% and 3.75%. The minutes indicated that current indicators suggest job growth remains low, and the unemployment rate has shown signs of stabilizing. Inflation remains at a relatively high level. The Committee is committed to achieving its goals of maximum employment and a sustained inflation rate of 2%. Uncertainty regarding the economic outlook remains high. The Committee is closely monitoring the risks to its dual mandate. To support its goals, the Fed decided to maintain the target range for the federal funds rate between 3.5% and 3.75%.

Specific voting details show that the Federal Reserve decided to maintain the benchmark interest rate in the range of 3.5% to 3.75% by a vote of 10 to 2. Fed Governors Waller and Milan voted against the decision, advocating for a 25 basis point rate cut. Prior to this interest rate policy announcement, the market widely expected the Fed to keep rates unchanged at this week's policy meeting, following three consecutive rate cuts in the second half of 2025.