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The Federal Reserve held its benchmark interest rate steady at 4.25 to 4.5%.

In its statement, the first since Donald Trump announced his sweeping tariffs,

America's central bank warned of growing economic uncertainty. The Fed's dual mandate is to keep

inflation and unemployment low. It said that America faced high risks of both rising.

Pakistan said that its armed forces have been authorized to undertake corresponding actions

after India launched missile strikes on nine sites in Pakistan and Pakistan-controlled Kashmir.

India said it had targeted terrorist infrastructure.

At least 26 people were killed and 46 wounded,

according to Pakistan. Tensions between the nuclear-armed neighbors rose when militants

killed 26 people in Indian-administered Kashmir last month.

Black smoke emerged from the Sistine Chapel, meaning that the 133 cardinals

sequestered inside did not elect a new Pope on the conclave's first ballot. Voting will resume

in the Vatican on Thursday. The punter's favorite is Cardinal Pietro Parolin, the right-hand man of the late Pope Francis,

although conclaves often produce surprises. The 70-year-old Italian is also presiding over the vote.

Xi Jinping arrived in Moscow for talks with Vladimir Putin. They are expected to discuss the war in Ukraine, energy cooperation and relations with America.

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