Central Bank Watch
FOMC Statement and Powell’s Press Conference Afterward
January 28, 2026
Changes made to the text of today’s statement and voting results at the meeting support today’s decision to pause interest rate cutting after 25-basis point reductions at each of last year’s final three meetings. Stephen Miran, Trump’s temporary appointment to fulfill the governorship vacancy after Adriana Kugler had resigned, cut his dissenting vote to a […] More
Central Bank Watch
No Change in 2.25% Overnight Bank of Canada Interest Rate
January 28, 2026
The Bank of Canada’s decision to hold its interest rate level at 2.25% was as expected, and the quarterly Monetary Policy Report made scant changes to the 2026 and 2027 growth and inflation forecasts. From a peak of 5.0% from July 2023 to an initial rate cut in June of 2024, the policy interest rate […] More
Central Bank Watch
FOMC Preview
January 28, 2026
The eight scheduled Federal Open Market Committee meetings scheduled each year have become instances of very high theater. The progressive ramping up of pressure on the committee from the Trump administration hit new heights during the seven weeks since the group last met, forcing Chairman Powell is issue an unprecedented statement on January 11th defending […] More
New Overnight Developments Abroad - Daily Update
Respite for the Dollar Ahead of FOMC Announcement
January 28, 2026
Financial market watchers and participants are overwhelmingly convinced that the Federal Open Market Committee will leave its federal funds target at 3.50-3.75%. The announcement arrives at 14:00 EST and will be followed by Chairman Powell’s press conference beginning 30 minutes later. Fed forecasts do not get updated this time. After this FOMC meeting, there will […] More
