The Federal Reserve on Wednesday opted to hold interest rates steady once again as President Donald Trump’s tariffs take hold and spark fears of an economic slowdown.

After a two-day meeting of its monetary policy committee in Washington, the Fed announced it would hold its rate target at 4.25% to 4.50%. Investors anticipated the move. The Fed’s target rate remains a full percentage point lower than it was when the central bank pivoted to cutting rates last September.

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