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. But the central bank's latest outlook spells out a stagflationary environment resulting from the import duties, with inflation heading higher even as overall growth trends lower.

The Federal Reserve stood pat on interest rates for the fourth meeting in a row, and home equity loans were flat — but HELOCs bumped up a bit. The average rate on the $30,000 HELoan remained at 8.25 percent for the third straight week. Meanwhile, the average rate on a $30,000 home equity line of credit rose five basis points to 8.27 percent, according to Bankrate’s national survey of lenders.

The Federal Reserve on Wednesday said that it will leave its benchmark interest rate unchanged following its June monetary policy meeting as policymakers continue to monitor inflation and labor market data amid elevated economic uncertainty. The central bank's decision leaves the benchmark federal funds rate at a range of 4.25% to 4.5%. It comes after the Fed left rates at that level at its three prior meetings in January, March and May. The central bank cut rates at its final three meetings last year, which involved a 50-basis-point cut in September and a pair of 25-basis-point reductions in November and December.