Federal Reserve Vice Chair Philip Jefferson signals pause in rate cuts ahead of January meeting

Federal Reserve Vice Chair philip jefferson signaled today, January 16, 2026, that the central bank is likely to maintain current interest rates during its upcoming meeting on January 27-28. Speaking in prepared remarks for the American Institute for Economic Research, the Shadow Open Market Committee, and the Florida Atlantic University Conference, philip jefferson stated that the current policy rate of 3.50%-3.75% leaves the Federal Reserve well-positioned to assess future adjustments based on incoming data. This stance indicates a pause in the rate-cutting cycle that began in 2024, during which the Fed delivered three consecutive quarter-percentage-point interest rate cuts.