Fed policymakers left the central bank's overnight rate unchanged at a range of 4.25% to 4.5%, where it has remained since December.

Four meetings and six months have elapsed since the Fed last adjusted interest rates. The federal funds rate stands between 4.25% and 4.5%, preserving much of a sharp increase imp

The Fed, helmed by Chair Jerome Powell, is expected to hold rates steady this month despite pressure from President Donald Trump to make cuts.