Warnings from the Fed that the economy is facing growing risks of stagflation initially sent stocks lower before they ended the day slightly higher. The S&P 500 rose 0.43% Wednesday while the Dow Jones Industrial Average notched a 0.

U.S. stocks ended a choppy day higher after the Federal Reserve left its main interest rate alone, as was widely expected, but also warned about rising risks for the U.S. economy.

At this point, Fed Chair Jerome Powell said, it isn't clear if the economy will continue its steady pace of growth.