The Federal Reserve maintains its primary interest rate, emphasizing indications of stability in the job market.

The Federal Reserve decided to maintain the main interest rate between 3.5% and 3.75%, despite two dissenting votes, citing strong economic growth and a stable unemployment rate. Chair Jerome Powell acknowledged persistent inflation above the 2% target and noted a recent decline in hiring, with only 50,000 jobs added in December. Although the unemployment rate fell to 4.4%, it remains above the desired level. Fed officials are balancing efforts to support the job market while managing inflation, which has eased from mid-2022 highs but still poses concerns. Consumer confidence has also dropped significantly, reflecting worries about the economy.