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

Even so, the Fed will almost certainly leave its key rate unchanged at about 4.3% when it meets Tuesday and Wednesday. Powell and many of the other 18 officials that sit on the Fed’s rate-setting committee have said they want to see how Trump’s tariffs affect the economy before making any moves.

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.

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

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.

These are today's mortgage and refinance rates. If inflation goes up as a result of tariffs, mortgage rates may rise this year.

Mortgage rates affect home affordability and long-term costs. Rates vary by economy, loan type and borrower credit. Lower rates can save money.

Forthcoming changes to the Federal Reserve’s rate-setting framework are unlikely to influence officials’ current decisions. But the expected changes acknowledge that the ‘lower-for-longer’ interest-rate era may be over.