The Federal Reserve is expected to maintain interest rates unchanged in January.

A relatively moderate December inflation report did not significantly change traders' expectations that the Federal Reserve will keep rates unchanged at its January meeting in two weeks. Rate futures markets indicate that a rate cut this month is seen as highly unlikely. In fact, traders' bets suggest that the most likely outcome at the moment is that no rate cut will occur until the end of April - with the April meeting being Federal Reserve Chairman Jerome Powell's last meeting as the Fed's leader.