Watch live: Fed chief Powell speaks after central bank holds rates steady yet again
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The Federal Reserve has left interest rates unchanged in January. It's the fourth consecutive time that the central bank has decided to keep steady on rate policy. Fed Chair Jerome Powell stated that a rate cut at the March meeting is unlikely. The Fed is leaving its options open as it assesses the path ahead for interest rates and when to implement cuts. Powell mentioned that supply chain and labor market healing have helped bring inflation down. The Fed is looking for more evidence that falling inflation is sustainable before cutting rates. Powell wants to see more good data and a continuation of the good data seen so far. The Fed believes that its policy rate is likely at its peak for this tightening cycle. The FOMC has not yet begun to consider cutting rates. The central bank may need more signs that inflation is easing before cutting rates. The Fed is not yet prepared to reduce rates and wants greater confidence that inflation is moving sustainably toward 2%. The Fed's rate decision chilled investors, and stocks slipped slightly. The S&P 500 lost 0.9%, and the Nasdaq Composite was off 1.4%.

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https://www.cnbc.com/2024/01/31/fed-meeting-today-live-updates.html