Business Highlights

WASHINGTON (AP)--With inflation moving higher on its worry list, the Federal Reserve held interest rates steady Wednesday, ending nearly a year of cuts to bolster the economy, and hinted that the next direction for rates could be up.

Fed Chairman Ben Bernanke and all but one of his central bank colleagues agreed that the best course was to leave a key rate alone at 2 percent, as the country slogs through the crosscurrents of plodding economic growth and zooming energy and food prices that threaten to spread inflation.

That meant the prime lending rate for millions of consumers and businesses stayed at 5 percent. The prime rate applies to certain credit cards, home equity lines of credit and other loans.

The decision brought to a close a powerful series of rate reductions that started in September and extended through late April. It was the central bank's most aggressive intervention in two decades to shore up an economy bruised by the trio of housing, credit and financial crises.

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Stocks up slightly after Fed keeps rates unchanged

NEW YORK (AP)--Wall Street ended an erratic day with a modest gain after the Federal Reserve left interest rates unchanged and issued a mixed assessment of the economy.

The Fed pointed to a few positive signs in the economy, including "some firming in household spending." But it also said persistently rising energy prices are likely to limit growth--and not just quicken inflation, which also remains a major concern for the central bank.

Trading is often uneven after a rate decision as the market parses the central bank's statement.