Chicago Fed chief Austan Goolsbee called the April inflation report 'comforting' but said he needs to see several more as officials consider rate cuts

As widely expected, the Federal Reserve left it's key interest rate unchanged Wednesday, staying firmly in "wait and see" mode.

Policymakers cited economic uncertainty from Trump’s trade war for keeping the Fed funds rate between 4.25% to 4.5% range, where it has been since December.

The Federal Reserve is finding fewer reasons to get out of its interest rate holding pattern with constantly evolving trade policy from the White House.

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.

Treasury yields climbed on Wednesday — sending the two-year note’s to the highest level since March — as traders further pared wagers on more than one Federal Reserve interest-rate cut by year-end.

After the Federal Reserve announced a continued pause in the federal funds rate on May 7, the Bureau of Labor Statistics is set to release its next inflation reading on May 13. That reading, for April,

TAMER-THAN-EXPECTED inflation and a significant de-escalation of a US-China trade war are easing fears of a sharp squeeze on American households and businesses in coming months, prompting Wall Street firms to pare predictions of a recession and giving the Federal Reserve room to leave interest rates where they are.