Fed keeps interest rates steady in first meeting of 2026
January 28, 2026/
The Federal Reserve kept interest rates steady in its first meeting of 2026, as economists expected.
Federal Reserve officials kept lending rates between 3.5-3.75% after issuing three cuts last year. In a statement, officials pointed to low job gains and stabilization in the unemployment rate behind their decision.
Officials urged a return to the 2% inflation rate and increasing employment numbers. The January inflation report, based on December 2025 data, revealed a 2.7% inflation rate.
In December 2025, the unemployment rate was 4.4%.
“The Committee’s assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments,” Federal Reserve officials wrote in a statement.
Two governors on the board, Stephen Miran and Christopher Waller, voted against keeping the rates steady, instead suggesting lowering rates by 0.25%. The nine other members of the board voted to keep rates unchanged, including Chair Jerome Powell.
Powell is expected to hold a press conference on the decision Wednesday afternoon.
Today Jun 14
74° 55°
Mostly Sunny
Latest News Stories
State Update: County Officials Raise Alarms Over Pritzker’s ADU Zoning Push and Data Center Tax Breaks
Legislative Committee Meeting | March 2026 Article Summary: During a state legislative update, Will County Board members expressed deep concerns over Governor J.B. Pritzker's continued push to mandate Accessory Dwelling Units...
Federal Update: DHS Shutdown, War Powers, and Housing Legislation Dominate Washington
Legislative Committee Meeting | March 3, 2026 Article Summary: Will County's federal lobbyists briefed the Legislative Committee on a turbulent week in Washington, D.C., highlighting the passage of a major bipartisan...
Will County Approves Diamond Enterprise Zone Expansion to Support $355 Million Energy Investment
Will County Executive Committee Meeting | March 12, 2026 Article Summary: The Will County Executive Committee unanimously approved ordinances expanding the Diamond Enterprise Zone to include the Village of Braceville. The...
Will County Corporate Revenues Surpass Expectations, Igniting Debate Over Delinquent Tax Sales
Will County Finance Committee Meeting | March 3, 2026 Article Summary: A routine review of the county’s year-end corporate fund revealed that revenues exceeded budgeted expectations by millions, largely driven by...
Will County Grants Extensions for Seven Solar and Commercial Projects Amid Permitting Delays
Will County Land Use & Development Committee Meeting | March 5, 2026 Article Summary: The Will County Land Use and Development Committee approved a slate of extensions for seven previously authorized...
Meeting Summary and Briefs: Will County Public Works and Transportation Committee for March 3, 2026
Will County Public Works and Transportation Committee Meeting | March 3, 2026 The Will County Public Works and Transportation Committee met on Tuesday, March 3, advancing millions of dollars in...
Will County Committee Postpones Liquor, Ad-Hoc Committee: Gaming, and Tobacco Ordinance Updates Amid Extensive Revisions
Will County Board Ad-Hoc Ordinance Review Committee Meeting | March 10, 2026 Article Summary: A Will County Board committee paused the advancement of major updates to the county's liquor, video...
Green Garden Township Board Opposes Earthrise Solar Project, Begins Exploring Incorporation
By Andrea Arens Green Garden Township officials voted March 9 to formally oppose the proposed Earthrise solar project and begin exploring whether incorporating the township into a municipality or rural...
Land Use Committee Approves 4.98-Megawatt Solar Facility on Eagle Lake Road Near Peotone
Will County Land Use & Development Committee Meeting | March 5, 2026 Article Summary: Reversing a deadlocked Planning and Zoning Commission, the Will County Land Use and Development Committee unanimously approved...
Will County Advances Nearly $1.5 Million in Right-of-Way and Improvement Agreements for Weber, Gougar, and Laraway Roads
Will County Public Works and Transportation Committee Meeting | March 3, 2026 Article Summary: The Public Works and Transportation Committee authorized a slate of professional services and construction agreements Tuesday to...
Public Works Committee: Approves $1.59 Million Contract for Scheer Road Bridge Replacement in Green Garden Township
Will County Public Works and Transportation Committee Meeting | March 3, 2026 Article Summary: The Will County Public Works and Transportation Committee on Tuesday advanced a nearly $1.6 million contract to...
Will County Board Backs $10 Million State Public Health Grant Increase Amid Funding Cuts
Legislative Committee Meeting | March 2026 Article Summary: The Will County Legislative Committee unanimously approved a resolution supporting a state legislative push to increase the Local Health Protection Grant by $10...
Barn Fire on Whispering Hills Lane Claims Livestock, Draws Extensive Mutual Aid Response
Article Summary: A massive late-night structure fire completely destroyed a 60-by-60-foot wood frame barn on Whispering Hills Lane, resulting in the loss of 15 animals but no human injuries. Firefighters from...
Will County Public Works Committee Shelves License Plate Reader Agreement Amid Bipartisan Privacy Concerns
Will County Public Works and Transportation Committee Meeting | March 3, 2026 Article Summary: The Will County Public Works and Transportation Committee abruptly removed an agreement with the Illinois State Police...
Will County Planning and Zoning Commission Overrides Staff to Approve New Lenox Accessory Building Variance
Will County Planning and Zoning Commission Meeting | March 3, 2026 Article Summary: The Will County Planning and Zoning Commission voted to override a staff recommendation of denial, approving a...