Stocks in the U.S. went up a little on Wednesday. This happened because the Federal Reserve did not change the main interest rate, as many people thought. But they also said there could be more problems for the U.S. economy.

Stocks went up. The S&P 500 grew by 0.4% after two days of losing. Before that, it won for nine days. The Dow Jones went up by 284 points, or 0.7%. The Nasdaq also grew by 0.3%.

Prices went up and down a lot during the day. This happened because people hoped the US and China would make a trade deal. The two countries have been putting more taxes on things they buy from each other. People are worried this trade fight could hurt the world economy if they don't stop.

People hoped that talks between the US and China in Switzerland this weekend would be good, but then President Trump said he would not lower taxes on Chinese products. This made people less hopeful. China wants the US to lower taxes on their products before they have trade talks. The meetings were supposed to help start these talks.

Sometimes the cost of goods from other countries changes a lot. This has caused big changes in the US economy. For example, people bought a lot of goods from other countries quickly to avoid paying more later. Even though there are these changes and people feel less positive about the future, the central bank said the economy is still doing well now.

Jerome Powell, the head of the central bank, said they can wait before changing interest rates. This is true even though Trump wants rates to go down faster to help the economy.

Powell said, "We don't know many things." So, like everyone else, the Fed is waiting to see what happens with Trump's trade war and if his taxes, which were harder than people thought, will cause problems like he planned.

Powell said this is true especially because the trade war seems to be changing. Now, the United States is having more discussions about trade with different countries.

The Fed also said it knows that tariffs are making the economy riskier. This could mean fewer jobs and higher prices.

Powell said if taxes on imported goods stay high, prices could go up, the economy might grow slower, and more people might lose their jobs.

This could lead to a bad situation called "stagflation." This is when the economy is not growing, but prices are still high. It's a problem because the central bank doesn't have easy ways to fix it. If they lower interest rates to help the economy and jobs, prices might go up even more. Raising interest rates would make things worse.

Also, big American companies are making more money at the start of 2025 than experts thought.

Disney's stock price went up a lot. This happened because the company made more money than they thought they would. They also said they will make more money in the future. And, they got over a million new people to use their online service.

But companies are still saying it's hard for them to know how much money they will make because the economy is not certain.

Marvell Technology's stock went down by 8%. They moved their meeting with investors from June to a time they don't know yet because they are not sure about the economy.

The S&P 500 went up by 24.37 points to 5,631.28. The Dow Jones Industrial Average also went up by 284.97 points to 41,113.97. And the Nasdaq composite went up by 48.50 points to 17,738.16.

In the bond market, interest rates on government bonds went down after the Fed's news. The rate on the 10-year government bond fell a little, from 4.30% to 4.27%.

Most markets in Europe went down, but markets in Asia went up.