New York: The Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is headed and what policies President Donald Trump may pursue.The Fed reduced its rate last year to 4.3% from 5.3%, in part out of concern that the job market was weakening. Hiring had slowed in the summer and the unemployment rate ticked up, leading Fed officials to approve an outsized half-point cut in September. Yet hiring rebounded last month and the unemployment rate declined slightly, to a low 4.1%.In its statement Wednesday, the Fed upgraded its assessment of the job market, calling it "solid," and noting that the unemployment rate "has stabilised at a low level in recent months." The Fed also appeared to toughen its assessment of inflation, saying that it "remains somewhat elevated." Both a healthier job market and more stubborn inflation typically would imply fewer Fed rate cuts in the coming months.Wall Street Indices dipUS stocks edged lower after the Federal Reserve opted not to cut interest rates for the first time since it began trying to help the economy in September. The S&P 500 was down 0.6% in Wednesday afternoon trading, and its loss widened by only a touch after the Fed released its widely expected decision. The Dow Jones Industrial Average dipped 148 points, or 0.3%, and the Nasdaq composite fell 0.9%. Treasury yields ticked higher amid continued speculation about how many cuts the Fed may deliver in 2025.