The Federal Reserve held interest rates steady on Wednesday, ending a string of three consecutive quarter-point rate cuts as the central bank grapples with a combination of elevated inflation and sluggish hiring.

The Federal Open Market Committee kept the federal funds rate steady, following three rate cuts last year.

The Fed and chair Jerome Powell are likely to hold interest rates steady as he faces a criminal investigation launched by President Donald Trump's close ally.

The main event for the crypto market on Wednesday is the Federal Reserve interest-rate decision, due at 2 p.m. Key volatility indexes, however, indicate that traders do not expect extraordinary price swings.

President Donald Trump, during an appearance at the premiere for the film "Melania," on Thursday, said that he will name his pick for the Federal Reserve Chair on Friday. Trump To Announce Fed Chair Pick On Friday "I'll be announcing the Fed chair tomorrow morning,

The US Federal Reserve, led by Jerome Powell, announced its interest rate decision on January 28, 2026, after a two-day meeting. The decision came after a recent 25-basis-point rate cut. Catch all LIVE updates here.

The Federal Reserve is expected to keep its key interest rate at the target range of 3.5% to 3.75%, but traders are looking for hints on next steps for policy.

The US Dollar (USD) starts the Federal Reserve’s (Fed) monetary policy week on a negative note. The US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades 0.4% lower to near 97.