  We present the results of the analysis of 11 RXTE/PCA observations of the
January 2002 outburst of the black-hole transient XTE J1550-564. The outburst
was rather short, with an e-folding time of ~11 days in the PCA band 3-25 keV.
The source was seen in an extreme low/hard state. The energy spectra could be
fitted with a power law slightly steepening (Gamma ~ 1.4 to ~1.5) in time, with
a high-energy cutoff decreasing from ~300 keV to ~100 keV and some additional
features between 6 and 7 keV, while the 3-150 keV flux decreased by a factor of
17. The power spectra were fitted with two broad Lorentzian components, whose
characteristic frequencies decreased with the source flux, and whose fractional
rms contribution was rather constant. The timing parameters derived can be
identified with those observed in other systems. These results show that,
although during previous, more luminous, outbursts, a very complex behavior was
observed, at low luminosities XTE J1550-564 behaves in a way comparable to most
Black-Hole Candidates.
