{"id":264371,"date":"2026-01-29T22:35:13","date_gmt":"2026-01-29T22:35:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/264371\/"},"modified":"2026-01-29T22:35:13","modified_gmt":"2026-01-29T22:35:13","slug":"fed-halts-rate-cuts-amid-dollar-plunge-and-pressure-from-trump","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/264371\/","title":{"rendered":"Fed halts rate cuts amid dollar plunge and pressure from Trump"},"content":{"rendered":"

\"Jerome Jerome Powell, chair of the US Federal Reserve, at a press conference in Washington, January 28, 2026. JONATHAN ERNST\/REUTERS <\/p>\n

The pause was widely anticipated. The US Federal Reserve chose to hold its key interest rates steady on Wednesday, January 28, keeping them between 3.5% and 3.75% after three consecutive cuts at the end of 2025. The central bank wants to keep its options open as the US economy continues to grow at a strong pace, even as warning signs have emerged.<\/p>\n

This decision is unlikely to please Donald Trump, who has called for further rate cuts to make borrowing cheaper. Of the 12 members of the Federal Open Market Committee (the body that sets interest rates) who took part in the vote, only two sided with the White House: Stephen Miran, a former economic adviser to the president who was appointed by him to wield influence within the institution, and Christopher Waller, who hopes to become the next Fed chair and needs to win presidential favor to do so.<\/p>\n

Speaking to reporters, Jerome Powell, the current Fed chair, summed up the majority view: “What we’re saying is we’re well positioned as we make decisions, meeting by meeting.” It was a way of keeping future decisions ambiguous ahead of the final two meetings of his term as head of the Fed, scheduled for March and April. For now, the institution believes that tensions in the labor market \u2013 not creating enough jobs, yet not pushing the unemployment rate sharply higher<\/a> \u2013 and persistent, though not overwhelming, inflation at 2.7% does not justify shifting policy in either direction.<\/p>\n

You have 70.25% of this article left to read. The rest is for subscribers only.<\/p>\n","protected":false},"excerpt":{"rendered":"Jerome Powell, chair of the US Federal Reserve, at a press conference in Washington, January 28, 2026. JONATHAN…\n","protected":false},"author":2,"featured_media":264372,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":{"0":"post-264371","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-il","11":"tag-israel"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/264371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=264371"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/264371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/264372"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=264371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=264371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=264371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}