US Fed keeps rates steady, flags 'uncertainties' from coronavirus outbreak

Central bank keeps key overnight lending rate remains at 1.50%-1.75%; chief says policy appropriate and not on preset course.

The Federal Reserve held interest rates steady on Wednesday at its first policy meeting of the year, with the head of the US central bank pointing to continued moderate economic growth and a "strong" job market, and giving no sign of any imminent changes in borrowing costs.

"We believe the current stance of monetary policy is appropriate to support sustained economic growth, a strong labor market and inflation returning to our symmetric 2% objective," Fed Chairman Jerome Powell said at a news conference following the central bank's unanimous decision to maintain the key overnight lending rate in a range of between