Hawkish Hold From The Fed To Test Trump's Patience

2025-01-29 19:05:00 ET

Summary

• Robust activity, a solid jobs market and sticky inflation justify the Fed's decision to hold interest rates steady.
• No surprises from the Federal Reserve at today’s FOMC meeting, with a unanimous decision to leave the Fed funds target range at 4.25-4.5%.
• Within the accompanying statement, there is a hawkish shift in language that suggests we need to see an unambiguous softening in the data for them to deliver further interest rate cuts.

By James Knightley , Chief International Economist, US; Padhraic Garvey , CFA, Regional Head of Research, Americas; and Chris Turner , Global Head of Markets and Regional Head of Research for UK & CEE ...

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