The Federal Reserve did not cut interest rates at its latest January 28, 2026, meeting; it held the benchmark federal funds rate steady at 3.50%-3.75%.

Recent Rate Cuts

Prior to this pause, the Fed implemented three consecutive 25 basis-point cuts (0.25% each) in late 2025:

  • September 2025: First cut in years, easing from higher levels post-pandemic hikes.
  • October 2025: Continued reduction amid cooling inflation.
  • December 2025: Third cut, bringing the rate to the current 3.50%-3.75% range despite some internal dissent.

This totals a 75 basis-point reduction over those three meetings, reflecting a shift from aggressive tightening to cautious easing as inflation neared the 2% target and the labor market stabilized.

Why No January Cut?

Officials cited balanced risks to inflation and employment, dropping prior language hinting at labor market weakness. Markets now expect the next potential cut no earlier than June 2026, with Fed projections showing just one more 25 basis-point move this year.

Meeting Date| Action| New Rate Range| Key Context
---|---|---|---
Sep 2025| -25 bp| ~3.75%-4.00% (prior high)| First cut since 202036
Oct 2025| -25 bp| ~3.50%-3.75%| Inflation progress6
Dec 2025| -25 bp| 3.50%-3.75%| Divided FOMC vote24
Jan 2026| Hold| 3.50%-3.75%| Steady outlook18

TL;DR : No cut in January 2026 (held at 3.5-3.75%); prior three cuts totaled 0.75% last year.

Information gathered from public forums or data available on the internet and portrayed here.