Fed Holds Interest Rates Steady Amid Economic Assessment
The Federal Reserve held its benchmark interest rate steady on Wednesday, January 28, 2026, pausing from rate cuts to further assess the current state of the economy, according to NPR News. The decision came as President Trump had been publicly urging the central bank to lower rates more aggressively.
In other economic news, U.S. Treasury Secretary Scott Bessent drew a connection between young Americans' views on socialism and their lack of investment in the stock market, Fortune reported. In an interview with CNBC, Bessent cited a Gallup poll indicating that 39% of Americans held a favorable view of socialism, while just over half viewed capitalism positively. He linked this sentiment to the fact that approximately 38% of American households have no exposure to equities. "I think that dovetails somewhat—that 38% of American households have no exposure to equities," Bessent stated, according to Fortune.
Meanwhile, Archer Daniels Midland Co. (ADM) faced scrutiny after reaching a $40 million civil penalty settlement with the SEC, Fortune reported. The settlement, which did not involve ADM admitting or denying wrongdoing, resolved civil allegations that the company misled investors about the performance of its nutrition segment. Regulators alleged that ADM used improper accounting to inflate the segment's profits, which produces ingredients for both human and animal food. This controversy comes roughly 30 years after ADM was implicated in a price-fixing conspiracy in the 1990s, which was the basis for the book and movie "The Informant!," according to Fortune.
In related financial news, Kalshi, a prediction marketplace, has demonstrated accuracy in forecasting Fed rate decisions, Fortune reported. A working paper from the National Bureau of Economic Research found that Kalshi's predictions have been as accurate as Wall Street's since 2022 and even maintained an edge over Fed funds futures. The study, which has not yet been peer-reviewed, highlighted Kalshi's success in predicting real-world outcomes, including President Trump's election in 2024 and Zohran Mamdani's Democratic Party nomination in the New York mayoral primary last June, even when polls showed him trailing.
In a move to support U.S. athletes, billionaire Ross Stevens donated $100 million to the United States Olympic & Paralympic Committee (USOPC), Fortune reported. Starting with the upcoming Milan Cortina Games, every U.S. Olympian and Paralympic athlete will receive $200,000, regardless of whether they medal. Stevens, the founder and CEO of Stone Ridge Holdings Group, made the donation in 2025, marking the largest gift in the organization's history. Athletes will receive the first $100,000 at age 45 or 20 years after their first qualifying Olympic appearance, whichever comes later, according to Fortune.
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