Alex Ossola

And we'll be back with our regular show on Monday morning.

Today's show is produced by Pierre Bien-Aimé with supervising producer Tali Arbel.

Michael LaValle wrote our theme music.

Jessica Fenton is our technical manager.

Aisha Al-Muslim is our development producer.

Chris Zinsley is our deputy editor.

And Falana Patterson is The Wall Street Journal's head of news audio.

I'm Alex Osola, wishing you a relaxing end to this month.

Thanks for listening.

The Federal Reserve holds rates steady and offers little clarity on when it might start cutting again.

Plus, a new wave of AI startups are landing billion-dollar valuations, even though they don't have a product.

And two Border Patrol agents who shot Alex Preddy and the ICE officer who shot Rene Good in Minneapolis have been put on leave.

It's Wednesday, January 28th.

I'm Alex Osola for The Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that move the world today.

The Federal Reserve held interest rates steady today, entering a new holding pattern after three straight cuts.

Officials kept language that's typically suggested an openness to further moves without suggesting any hurry to make them.

In a press conference after the decision was announced, Chair Jerome Powell offered little insight into what's next.

For more on the Fed's decision and what went into it, I'm joined now by WSJ investing columnist Spencer Jacob.

Spencer, Powell said that the Fed chose to keep rates steady as inflation and employment are, at least for the moment, in a sort of balance.