Federal Reserve officials are expecting another interest rate increase in 2026.
The Federal Reserve held interest rates steady on Wednesday, as the central bank grapples with a combination of elevated inflation and sluggish hiring.
Stocks closed higher on Monday, shrugging off a dip earlier in the day after reports that the Department of Justice had opened a criminal investigation into Federal Reserve Chair Jerome Powell.
Hiring ticked down in December, defying the Federal Reserve's effort to boost hiring with a recent series of interest rate cuts, a jobs report on Friday showed.
The Federal Reserve cut its benchmark interest rate a quarter of a percentage point on Wednesday.
Shifts in Fed policy affect what people pay for credit cards, auto loans, mortgages, and other financial products.