The Federal Reserve kept its forecast for two rate cuts this year amid Trump's tariffs, which are expected to push up inflation and slow the economy

Inflation has come down a great deal but has been running somewhat above our 2 percent longer-run objective. In support of our goals, today the Federal Open Market Committee decided to leave our policy interest rate unchanged.

The Federal Reserve downgraded its projections for U.S. economic performance this year, along with several primary economic indicators. The U.S. central bank sees lower economic growth, higher

The Federal Reserve held its key interest rate steady for the fourth time this year on Wednesday, leaving its benchmark lending rate unchanged at a range of 4.25 percent to 4.5 percent. For homebuyers, this means that mortgage rates are likely to keep hovering around the 7-percent mark for the foreseeable future.

The Fed is expected to hold rates steady as it continues to observe the effects of President Donald Trump's tariffs.