Federal Reserve Chairman Jerome Powell pauses during a press conference after the Federal Open Market Committee meeting in Washington, DC, on January 28, 2026.
Kevin Dietch | Getty Images
As expected, the US Federal Reserve kept its key interest rates unchanged at a range of 3.5% to 3.75%.
But what investors were really looking at were signs that the independent central bank had political marks.
Much of the meeting and press conference focused on the U.S. economy and labor market, which the Fed reassuringly believes has improved since its last meeting.
However, Mr. Powell has filed a lawsuit against Fed Director Lisa Cook, who is accused of mortgage fraud, an allegation Mr. Powell denies. The ruling will determine whether U.S. President Donald Trump can remove her from office.
“This case is probably the most important case in the Fed’s 113-year history,” Powell said Wednesday at a press conference after the Fed’s board meeting. “When I thought about it, I realized it might be difficult to explain why I didn’t participate.”
Powell also had some advice for the next Fed chair. “Don’t get caught up in elected politics,” Powell said. “Please stop.”
Earnings of tech mega-cap stocks also dominated the news overnight. Meta, microsoft and tesla Results were reported after the market closed. Investors were selective about their compensation, even though earnings per share and sales in both companies beat expectations.
Meta shares soared as much as 10% in after-hours trading after the company reported better-than-expected first-quarter sales. Tesla stock rose about 1% despite experiencing its first annual sales decline in 2025. Finally, Microsoft fell more than 6% due to slowing cloud growth and a weak profit outlook.
Asian semiconductor giants also delivered disappointing results. SK Hynix announced on Wednesday that its full-year profit for 2025 hit a record high, and Samsung Electronics’ fourth-quarter profit hit a record high for a quarter, the company said on Thursday. It’s a good thing that both companies are running out of memory chips.
On Wednesday, S&P 500 tonsIt reached the 7,000 level for the first time, but closed below that threshold. of USD The momentum intensified after the country’s Treasury secretary denied reports that the country was interfering in foreign exchange markets.
This morning in Asia gold The price hit an all-time high of over $5,500. and apple It will next report earnings, but there is still much more for investors to monitor.
— CNBC’s Alex Harring contributed to this report.
What you need to know today
And finally…
Why Singapore is a haven for investors
When KPMG executive Anton Ludenklau moved from the leafy streets of London’s commuter town to the skyscraper-filled streets of Singapore, the first thing he noticed was how easy it was to do business in the Southeast Asian country.
Mr Ludenklau added that while Singapore itself as a market is “not particularly interesting” due to its small population, investors like its location, British common law and large private capital market, adding that Singapore is a “hub” for capital flows to and from Asia.
— Lucy Handley
