# Fed holds rates with stocks at record highs, dollar under pressure, and Powell in the crosshairs | Fortune

> The Fed held rates steady as the S&P 500 crossed 7,000 for the first time while the dollar index fell more than 10% over the past year. Officials said they still need greater confidence that inflation is moving toward 2% before resuming cuts.

- Date: 2026-01-28 · published 2026-01-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/20964-fed-holds-rates-with-stocks-at-record-highs-dollar-under-pressure-and-powell-in
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar and the prospect of a more dovish Fed chair tend to lift dollar-priced commodities, though the near-term rate path is unchanged.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-10-31 | [US Dollar Under "Significant Pressure" As Fed Make A Hawkish Cut And Tipped To Remain On Hold For The Remainder Of 2019 \| Exchange Rates UK](https://feedsoft.ai/events/56776-us-dollar-under-and-quot-significant-pressure-and-quot-as-fed-make-a-hawkish.md) | -0.1% | +0.8% |
| DXY | 2026-01-29 | [Dollar Remains Under Pressure Despite Fed’s Hawkish Hold as Gold Surges Again \| Investing.com](https://feedsoft.ai/events/20960-dollar-remains-under-pressure-despite-fed-s-hawkish-hold-as-gold-surges-again.md) | +0.6% | +0.3% |
| DXY | 2024-01-31 | [USD/JPY slides into 146.00 after Fed holds rates, Powell leaves the door open for rate cuts](https://feedsoft.ai/events/32360-usd-jpy-slides-into-146-00-after-fed-holds-rates-powell-leaves-the-door-open.md) | +0.3% | +0.4% |
| DXY | 2026-07-29 | [Dollar Sinks Most in Two Weeks After Fed Holds Rates Steady \| Windsor Star](https://feedsoft.ai/events/18549-dollar-sinks-most-in-two-weeks-after-fed-holds-rates-steady-windsor-star.md) | -0.9% | -2.0% |
| DXY | 2025-07-02 | [U.S. dollar to stay under pressure from tariff, debt and rate cut expectations](https://feedsoft.ai/events/23958-u-s-dollar-to-stay-under-pressure-from-tariff-debt-and-rate-cut-expectations.md) | +0.3% | +1.7% |

## Sources

- fortune.com: https://fortune.com/2026/01/28/federal-reserve-powell-holds-rates-dollar-gold-silver-stocks-at-7000-dissent-christopher-waller/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.