* Sudan Buys $1.5 Billion Pakistan Aircraft Deal
- Russia has launched its biggest drone attack on Kyiv since the start of the full-scale invasion,Ukraine's military says.
- Air defense systems shot down 71 out of 71 Shahed drones, the Kyiv city military governance said.
- "This was an remarkable density of drones," Serhiy Popko,the head of the administration,said.
Ukraine war – live: Russia launches biggest drone attack on Kyiv since start of invasion
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Russia has launched its biggest drone attack on Kyiv since the start of the full-scale invasion,Ukraine’s military says.
Air defense systems shot down 71 out of 71 Shahed drones, the Kyiv city military governance said.
“This was an remarkable density of drones,” Serhiy Popko,the head of the administration,said.
There where no immediate reports of casualties or important damage.
Ukraine has been bracing for a renewed Russian offensive, and the drone attack might potentially be a prelude to a larger assault.
Here are the latest developments:
- Russia launches biggest drone attack on Kyiv as start of invasion
- Ukraine says it shot down all 71 drones
- Kyiv city military administration says attack had ‘exceptional density’ of drones
Federal Reserve Holds Steady on Interest Rates, Signals Potential Cuts in 2026
The Federal Reserve’s Federal Open Market Committee (FOMC) voted 7-0 on January 9, 2026, to maintain the federal funds rate in a target range of 5.25% to 5.50%, a level unchanged as July 26, 2023. This decision comes amid cooling inflation and growing expectations of rate cuts later this year.
In a statement released at 2:00 PM EST, the FOMC acknowledged that inflation “has eased over the past year but remains above the Committee’s 2 percent long-run goal.” The committee noted that economic activity has been expanding at a moderate rate.
Key Economic Data Influencing the Decision
- Inflation Rate: The Consumer Price Index (CPI) rose 3.1% over the 12 months ending December 2025, according to the Bureau of Labor Statistics’ report released January 11, 2026.
- Unemployment Rate: The unemployment rate remained at 3.7% in December 2025, as reported by the Bureau of Labor Statistics.
- GDP Growth: The U.S. gross domestic product (GDP) grew at an annualized rate of 3.3% in the fourth quarter of 2025, according to the Bureau of Economic Analysis.
Future rate Cuts Anticipated
FOMC participants’ projections, released alongside the statement, indicate a median expectation of three 25-basis-point rate cuts in 2026. This suggests a federal funds rate of 4.625% to 4.875% by the end of the year. However, the projections are contingent on future economic data.
“The Committee will continue to assess additional information and its implications for monetary policy,” the FOMC statement reads.”We are prepared to adjust the stance of monetary policy as appropriate.”
Federal Reserve Chair Jerome Powell will hold a press conference at 2:30 PM EST to further elaborate on the committee’s decision and outlook. Investors will be closely watching for clues about the timing and pace of potential rate cuts. The next FOMC meeting is scheduled for March 18-19, 2026.