The Federal Reserve said Wednesday it will maintain the benchmark interest rate at its current range of 4.25% to 4.5%

The Fed kept its key rate unchanged for the fourth straight meeting Wednesday, and said the economy is expanding at “a solid pace.”

As widely expected, the Federal Reserve held its policy rate at 4.25%-4.50% on Wednesday for a fourth straight meeting as the central bankers wait for further clarity in the evolving economic outlook.