After implementing three rate cuts in late 2024, the central bank has opted to keep its benchmark federal funds rate steady at 4.25% to 4.50%. The pause comes as inflation showed signs of stubborn persistence,

The Federal Reserve decided to delay additional rate cuts for now and keep interest rates unchanged at its first meeting of the year, giving themselves time to assess whether inflation is cooling and how President Donald Trump’s policies might impact the U.S. economy.

The U.S. dollar was firmer against major currencies on Wednesday after the Federal Reserve left interest rates unchanged as widely expected, but gave scant clues about further reductions in borrowing costs this year.