New Delhi, April 30 -- Jerome Powell's last policy meeting as the chairman of the US Federal Reserve concluded on expected lines- the Federal Open Market Committee (FOMC) decided to keep benchmark interest rates unchanged at 3.5%-3.75% for the third consecutive policy given the persisting uncertainty due to the US-Iran conflict.

The FOMC voted 8-4 to hold the benchmark interest rate in a range steady and highlighted that inflation is elevated, reflecting the recent increase in global energy prices. Economic growth, however, remains in good shape, and the job market is stable.

Fed Chair Powell said it was his last meeting as the chairman, as his term expires on 15 May. He said he "will continue to serve as a governor for a period of time...