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Fed punts interest rate decision to December

Central bank softens tone on overseas threats to economy

October 28, 2015 03:30PM

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Fed Chair Janet Yellen

Fed Chair Janet Yellen

From the New York website: The U.S. Federal Reserve announced Wednesday that it will not change short-term interest rates for now, though it indicated a shift in policy may come before year’s end.

In contrast to the tone the central bank set last month, the Fed’s policy committee  did not repeat warnings that global developments may negatively impact the U.S. economy, Reuters reported.

“In determining whether it will be appropriate to raise [interest rates] at its next meeting, the [Fed] will assess progress—both realized and expected—toward its objectives of maximum employment and 2 percent inflation,” the Fed said in its statement.

The Fed will hold its next meeting in December. [Reuters] – Rich Bockmann