The Federal Reserve opted to leave interest rates unchanged on Wednesday, citing heightened risks of rising inflation and slowing growth, which have prompted renewed warnings about stagflation. The decision came at the close of the Federal Open Market Committee's meeting.

The Federal Reserve is again leaving its benchmark interest rate at 4.25% to 4.5%, citing rising economic uncertainty.

The Federal Reserve kept its key interest rate unchanged Wednesday, brushing off President Donald Trump’s demands to lower borrowing costs, and said that the risks of higher unemployment and higher inflation have risen.