Fed chair Janet Yellen says near-zero rate will be maintained because of concerns approximately stock market turmoil in China and lower-than-desired inflationThe Federal Reserve declined to raise interest rates from their record low of near-zero on Thursday, citing concerns that the still fragile world economy may “restrain economic activity” and further drag down already low inflation.
While some economists had expected a rate rise – the first since 2006 – recent stock market turmoil in China and fears that a slowdown in the world’s moment largest economy could dampen the global economy appear to have put off the decision for now.
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Source: theguardian.com