The Federal Open Market Committee decided to maintain the benchmark interest rate within the target range of 3.5% to 3.75% at its policy meeting concluding on January 28th. The vote resulted in a 10 to 2 tally. Governors Waller and Milan cast dissenting votes, advocating for a 25 basis point rate cut. The Federal Reserve indicated that the unemployment rate is showing some signs of stabilization. The Fed kept the reverse repurchase rate at 3.5% and the discount rate at 3.75%. The Federal Reserve stated that economic activity is expanding at a steady pace. The Bloomberg Dollar Index maintained its upward trajectory.