US Stock Futures Dive Further

The Federal Reserve held interest rates steady as scheduled on January 29, per its post-decision statement. Rate futures contracts now reflect a 28% probability of a rate cut in April — Powell’s final meeting as Fed Chair — slightly below prior levels. Meanwhile, the chance of a June rate cut has climbed to 64%, up from before, with a second cut later this year highly likely. (Source: FX678)

**Jan. 29 – Nick Timiraos, the "Fed's Whisperer," reports the Federal Reserve held interest rates steady as expected and refrained from signaling when it could restart rate cuts. In December forecasts, 12 of the 19 Fed officials saw at least one additional rate cut this year as appropriate.** Whether the Fed cuts rates again hinges on which happens first: a labor market breakdown or a clear, sustained return of inflation to its 2% target. Neither has materialized since December, however. Job growth has slowed notably, though the unemployment rate has held steady. Inflation readings have grown murky due to statistical disruptions from the government shutdown. Should the labor market not weaken further, the next rate cut could be delayed until after Fed Chair Jerome Powell’s term expires in May this year. (Golden Finance)

Jan. 29: The U.S. Dollar Index (DXY) jumped 1.0% intraday to 96.72. The Federal Reserve held interest rates steady as expected, while spot silver rose $1.20 sharply and was last trading at $22.42 per ounce. (FXStreet)

Jan. 29 (FXStreet) — The Federal Reserve’s Jan. 29 FOMC statement notes three key points: the unemployment rate has shown some stabilization signs, inflation remains slightly elevated, and employment growth stays sluggish. Notably, the statement omitted language referencing increased downside risks to employment.

January 29, 2026 — The Federal Reserve held its benchmark interest rate steady at 3.50%-3.75% in its first monetary policy decision of 2026, pausing a string of consecutive rate cuts that began in September 2025 — a move in line with market expectations.

On January 29th, Bitget market data shows the Federal Reserve held interest rates steady as expected. Spot gold climbed $14 briefly, trading at $5,290.75 per ounce as of press time.