The Federal Reserve left its benchmark interest rate unchanged Wednesday, Jan. 29, after cutting it three times in a row last year.
In a statement, the Fed said the job market is “solid,” and noted that the unemployment rate “has stabilized at a low level in recent months.”
The Fed also appeared to toughen its assessment of inflation, saying that it “remains somewhat elevated.”
Both a healthier job market and more stubborn inflation typically would imply fewer Fed rate cuts in the coming months. Read more.