The Federal Reserve said on Wednesday that it’s keeping its benchmark interest rate steady, citing elevated uncertainty over the nation’s economic outlook. The decision keeps the Fed’s benchmark short-term rate at a range of 4.25% to 4.5% for a fifth straight meeting. The unemployment rate remains low, and labor market conditions remain solid. he advocated for the independence of the Federal Reserve. Their effects on inflation could prove to be short-lived, but it is possible the inflation effects could be more persistent.