The Federal Reserve Board unanimously voted to maintain the reserve interest rate. The rate-cut proponents did not choose to "break out".

date
29/01/2026
Although the entire Federal Open Market Committee votes on the federal funds rate as the benchmark, only the seven members of the Federal Reserve Board vote on the interest rate on reserves. This rate usually moves in sync with the federal funds rate. Today, all seven board members voted to maintain the rate, which is usually the norm, even if some board members dissent on the federal funds rate decision. There were concerns earlier that those who are eager to push for a rate cut might express this tendency in the interest rate on reserves vote. However, that was not the case today.