The Federal Reserve leaves rates unchanged and indicated that no more hikes will be coming this year, with much of the statement relatively unchanged since January.

The Fed leave the fed funds rate target unchanged at 2.25%-2.50%.

Federal Reserve Chairman Jerome Powell in a news conference following the two-day Federal Open Market Committee (FOMC) said the labor market remains strong Payroll employment was little changed in February, but job gains have been solid and the unemployment rate has remained low. Overall inflation has declined, largely as a result of lower energy prices; inflation for items other than food and energy remains near 2 percent.

Powell reaffirmed the Fed will remain patient on future rate adjustments.

Stocks was moving broadly lower on Wednesday. The Dow lost 141.71 points to 25,745.67 while the Nasdaq Composite was up slightly, however, rising 5.02 to 7,728.97

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