WASHINGTON (AP) — The Federal Reserve kept its key interest rate unchanged Wednesday, brushing off President Donald Trump’s demands to lower borrowing costs, and said that the risks of both higher unemployment and higher inflation have risen, an unusual combination that puts the central bank in a difficult spot.

The Federal Reserve on Wednesday left interest rates unchanged, as expected, in the first central bank meeting since President Donald Trump announced widespread import tariffs. Some of those tariffs have since been postponed for 90 days until early July,