The Federal Reserve voted Wednesday to hold rates steady as inflation remains elevated, ending a streak in which it cut interest rates in three successive meetings of its monetary policy committee. After a two-day meeting in Washington,

By Howard Schneider WASHINGTON, Jan 28 (Reuters) - The U.S. Federal Reserve held interest rates steady on Wednesday, citing still-elevated inflation alongside solid economic growth, and giving little indication in its latest policy statement of when borrowing costs might fall again.

The Federal Reserve is nearing an interest rate decision at its January meeting. Jerome Powell is under growing pressure amid a DOJ investigation.

Borrowing costs are set to hold steady for the time being, as the Federal Reserve has returned to "wait-and-see" mode to determine whether inflation or unemployment poses the greater threat to the economy.

Treasury yields are nudging higher early Thursday after the Federal Reserve the day before left official borrowing costs at a range of 3.50% to 3.75%. The benchmark 10-year Treasury yield was up 1 basis point to 4.

The Treasury yield curve was steepening, with short-dated yields edging lower and longer maturities rising, following the Fed’s meeting Wednesday.