The Federal Reserve's first Federal Open Market Committee (FOMC) meeting of 2025, scheduled for January 28-29, is expected to hold interest rates steady at 4.25%-4.50%, despite President Donald Trump's public demand for immediate rate cuts. Trump recently reiterated his stance during the World Economic Forum in Davos, emphasizing the need for lower rates to align with global trends. Markets have priced in a 98%-100% probability of no rate change. The meeting will also feature a press conference by Fed Chair Jerome Powell, where he is likely to address Trump's comments and other economic indicators, including inflation and employment data. Additionally, this week marks a critical earnings period for major tech companies, including Tesla, Meta, Microsoft, and Apple, which could influence market movements. Investors are also focused on the PCE inflation data and the earnings of M7 companies, with 41% of the S&P 500's market cap reporting earnings this week.