Nowflation › Release calendar › FOMC decision, January 28, 2026

FOMC decision, January 28, 2026: Fed maintains rate — Graded

Countdown

Released Wednesday, January 28, 2026 at 2:00 PM ET. Graded below.

What to watch

Fed funds target range: 3.50%–3.75% (the range set at the previous meeting) going in.
Effective fed funds rate: 3.64% on January 27, 2026 (EFFR, the last reading before the meeting).
Nowflation: no Fed call. The markets are shown with their dates; the decision is graded from the effective rate after the meeting.

The Nowflation call

Nowflation makes no FOMC call. The markets are shown with their dates; the decision is graded from the effective rate after the meeting.

Competing forecasts

No competing forecast on the tape for this release.

Grading

Decision: Fed maintains rate (EFFR 3.64% on January 27, 2026 → 3.64% on January 29, 2026; target range 3.50%–3.75%). Source: the effective fed funds rate (EFFR) before vs after the meeting, in 25bp steps.