Oil Inches Higher as U.S. Federal Reserve Keeps Rates Unchanged
In its first monetary policy decision of 2026, the Federal Reserve elected to hold the federal funds rate steady at 3.50%–3.75%, pausing further cuts after three reductions late last year. The decision, made at the January 27–28 Federal Open Market Committee meeting, reflects a cautious stance amid mixed economic signals and persistent inflation above target. The FOMC statement shows that while economic activity “has been expanding at a solid moderate pace,” job gains have slowed and the unemployment rate has only “shown…