US stock futures held steady as investors braced themselves for the release of the Federal Reserve's next monetary policy decision amid a volatile trading week.

Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) hovered near the flatline. Futures attached to thetech-heavy Nasdaq Composite futures (NQ=F) climbed up 0.1%.

The central bank is set to conclude its two-day meeting and reveal its next move on interest rates at 2 p.m. ET on Wednesday. Overshadowing the central bank's decision are rising concerns about US economic growth and inflation amid President Donald Trump's escalating trade war .

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Federal Reserve Chair Jerome Powell has repeatedly said that officials are taking a cautious approach to rate cuts, and the Fed is widely expected to hold rates steady . But, investors will also look to the central bank's quarterly forecast and Powell's press conference for clues as to potential rate cuts later this year.

Wall Street has been on edge since recent sell-offs thrust the Nasdaq and S&P 500 into correction territory. The stock market failed to muster a comeback on Tuesday with tech leading the way down.