The Fed weighs three straight reports of persistent inflation with calls to lower interest rates at its latest meeting.

Firmer price pressures could lead longer-term rates to rise as investors continue paring back expectations of cuts.

The Federal Reserve left interest rates unchanged Wednesday, as officials reckon with increasing evidence that their fight against inflation is losing ground — and signal that rate cuts aren’t coming soon.

Federal Reserve officials are poised to keep interest rates steady for a sixth consecutive meeting and signal no plans for cuts in the near future after higher-than-expected inflation.

The Federal Reserve held its benchmark lending rate unchanged Wednesday, noting a "lack of further progress" in its inflation fight, and suggested that it would hold off on rate cuts until at least later in the year.