The Federal Reserve left interest rates at their current levels as the central bank continued to assess the impact of President Donald Trump's tariffs on the U.S. economy. The federal funds rate remains in the 4.25 to 4.5% range.

Fed keeps rates steady, but sees higher inflation Federal Reserve policymakers opted to keep interest rates at their 4.25% to 4.5% range. The central bank also stuck with its forecast for two rate cuts. However, policymakers said they see higher inflation. Read more about the Fed's decision from CNBC's Jeff Cox here.

Fed officials see two rate cuts in 2025, but overall turn hawkish.