Federal Reserve holds off on raising interest rates after market turmoil
Thursday, September 17, 2015 2:03 PM EDT
The Federal Reserve punted on Thursday, announcing it would keep interest rates near zero as officials assess the impact of tighter financial conditions and slower global growth on the domestic economy.
The Fed’s decision, widely expected by investors, showed officials still lack confidence in the strength of the domestic economy even as the central bank has entered its eighth year of overwhelming efforts to stimulate growth.
“Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term,” the Fed said in a statement following a two-day meeting of its policy-making committee, the Federal Open Market Committee.
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NYTimes.com
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