At 2:00 pm local time on Wednesday, January 29th (3:00 am Beijing time on Thursday, January 30th), the Federal Reserve announced that it will maintain the target range for the federal funds rate at 4.25% -4.5%. The Federal Reserve stated that the inflation rate is still "slightly high" and the economic outlook is uncertain. The statement from the Federal Reserve did not include the wording mentioned in the December statement that the inflation rate has moved towards the 2% target.

The Federal Reserve stated that the unemployment rate has stabilized at a low level and the labor market conditions remain stable; The situation mentioned in the previous statement has eased.

The Federal Reserve stated that the risks of achieving employment and inflation targets are "roughly balanced", and economic activity continues to expand at a steady pace. The reduction of the balance sheet will continue at the previous pace, and this policy decision has received unanimous vote support.

The following is the full text of the statement released by the Federal Open Market Committee (FOMC) of the Federal Reserve (Fed/FED) after its monetary policy meeting on January 28-29:

Recent economic indicators indicate that economic activity continues to expand at a steady pace. In recent months, the unemployment rate has remained stable at a low level, and the labor market conditions have remained stable. The inflation level is still slightly high.

The committee seeks to achieve full employment and a longer-term inflation target of 2%. The committee believes that the risks of achieving employment and inflation targets are roughly balanced. The economic outlook is uncertain, and the committee is concerned about the risks of dual policy missions.

To support its goals, the committee has decided to maintain the target range for the federal funds rate at 4.25% -4.5%. When considering the extent and timing of further adjustments to the target range of the federal funds rate, the committee will carefully evaluate newly released data, constantly changing prospects, and risk balance. The committee will continue to reduce its holdings of US Treasury bonds, institutional bonds, and mortgage-backed securities (MBS). The committee is firmly committed to supporting full employment and bringing inflation back to the target of 2%.

When evaluating appropriate monetary policy positions, the committee will continue to pay attention to the impact of newly released information on the economic outlook. If there are risks that may hinder the achievement of the committee's goals, the committee will be prepared to adjust its monetary policy stance at its discretion. The committee's evaluation will take into account a wide range of information, including indicators of labor market conditions, inflation pressures and expectations, as well as developments in the financial and international situation.

The FOMC members who voted in favor of the Federal Reserve's monetary policy resolution include: Federal Reserve Chairman Powell, Vice Chairman Williams, Vice Chairman of Financial Regulation Barr, Board Member Bauman, Boston Fed President Susan Collins, Board Member Cook, Chicago Federal Reserve Bank President Austan Goolsbee, Vice Chairman Jefferson, Board Member Adriana Kugler, St. Louis Federal Reserve Bank President Alberto Musalem, Kansas City Federal Reserve Bank President Jeffrey Schmid, and Board Member Christopher Waller.