The Federal Reserve pushed the pause button on its interest rate cuts Wednesday, leaving its key rate unchanged at about 3.6% after lowering it three times last year.

The US Federal Reserve has voted to hold interest rates as its chair, Jerome Powell, defended the importance of central bank independence.

The FOMC's statement noted that data shows the economy "expanding at a solid pace," adding that, "Job gains have remained low, and the unemployment rate has shown some signs of stabilization. Inflatio...