Fed holds rates steady as it notes rising uncertainty and stagflation risk

The Federal Reserve on Wednesday held its key interest rate unchanged as it awaits fluctuations in trade policy and the direction of a sputtering economy. In a move that carried little suspense given the wave of uncertainty sweeping the political and economic landscape, the Federal Open Market Committee held its benchmark overnight borrowing rate in a range between 4.25%-4.5%, where it has been since December.