NEW YORK, June 17 : Major stock indexes fell, bond yields rose and the U.S. dollar extended gains against the euro on Wednesday after the Federal Reserve held the benchmark interest rate steady and new projections showed officials expect a hike in borrowing costs later this year amid increasing inflation concerns.

Futures markets overwhelmingly expect the Fed to hold interest rates steady.

Wednesday's FOMC decision marks the first with new Fed Chairman Kevin Warsh at the helm of the U.S. central bank.