The Federal Reserve decided to keep its benchmark interest rate unchanged at 3.5%-3.75% for now, a decision that was widely expected.

For the first time in several years, markets were somewhat split on whether the U.S. central bank would hike rates.

Investors had largely expected that the Fed would hold interest rates steady, given ongoing concerns with high inflation.

The Federal Reserve decided to keep its benchmark interest rate unchanged at 3.5%-3.75% for now, a decision that was widely expected.