U.S. equity futures rise after Federal Reserve's decision

U.S. stock futures are up after gains on Wednesday. European markets opened mostly steady, while Asian markets had mixed results. Investors responded positively to a cautious approach from the Federal Reserve regarding interest rates. The Federal Reserve decided to keep rates unchanged and noted increasing uncertainty about the economy, mainly due to ongoing tariff issues. Although the Fed lowered its growth outlook for the U.S. economy, it raised its inflation forecasts. Chair Jerome Powell mentioned that inflation pressures from tariffs might be temporary. Starting April 1, the Fed will also slow down its rate of quantitative tightening. In international news, Ukraine’s President Volodymyr Zelenskiy expressed support for a ceasefire focusing on energy infrastructure in talks with President Donald Trump. Both leaders agreed to work together on air defense systems and Ukraine’s electricity supply. In other economic news, Bank of America expects Canada to lower interest rates in April, despite rising inflation. A poll by RBC showed Canadians are seeking financial independence amid market volatility. Additionally, there are discussions on whether a recovery in smartphone sales is likely. Concerns remain as the OECD has issued warnings about potential troubles ahead in the economy.