The Federal Reserve keeps the Interest Rate unchanged and no longer mentions inflation 'progress' in the policy statement.

Jinshi Data, January 30th, the Federal Reserve kept the Intrerest Rate unchanged and had little insight into when the borrowing costs would further drop in economies where inflation remains above target, rise continues, and the unemployment rate is low. Federal Reserve officials said they basically believe that the progress in dropping inflation will resume this year, but now they have paused dropping the Intrerest Rate and are waiting for data confirmation. Officials said they want to see if inflation continues to decline to the Fed's target level in the next few months before easing monetary policy again, and they are also uncertain about the impact of Trump's plans on price pressures, labor markets, and economic rise.