Fed holds interest rates steady despite DOJ probe into Powell, Trump pressure
New York Post·2026-01-29 03:00
The Fed on Wednesday kept interest rates in the current range, a move that was widely expected in spite of intensifying pressure from President Trump and the criminal probe into Fed Chair Jerome Powell.After three consecutive quarter-point cuts in 2025, the central bank maintained rates in the 3.5% to 3.75% range at its first meeting of the year, in a 10-2 vote.Policymakers opted to take a wait-and-see approach after months of weighing inflation risks against unemployment — likely assuaged by recent economi ...