Stocks finished flat Thursday after the Federal Reserve said the economy appeared to be growing at a “moderate” pace but offered a cautious reading on inflation.

The central bank, which stood pat on short-term interest rates as had been widely expected, offered investors a relatively unchanged assessment of the economy, saying its primary concern remains the risk that inflation will fail to moderate.

Stocks bounced around after the Fed said recent readings on inflation excluding energy and food prices showed some improvement but no pronounced signals of easing. (AP)