The US Federal Reserve decided at its meeting, which concluded moments ago today, Wednesday, January 28, to keep interest rates unchanged at 3.75%, as expected at the first meeting of the year, following three previous rate cuts. Ten members voted to maintain the rate, while two members, Stephen Miran and Christopher Waller, voted to lower it by 25basis points.

The Fed’s interest rate report stated that available indicators suggest economic activity is expanding at a moderate pace and job growth has remained low in recent months, while inflation remains elevated.

The statement indicated that the committee aims to achieve maximum employment and inflation of 2%. The committee believes that the risks to achieving these goals are balanced and will continue to monitor incoming information regarding the economic outlook and the balance of risks.

Markets are now awaiting the press conference of Federal Reserve Chairman Jerome Powell, scheduled for less than half an hour, where he will answer questions from reporters.