WASHINGTON, D.C. – The Federal Reserve said yesterday that it will postpone any retreat from its stimulus campaign, keeping its benchmark interest rate close to zero.
Fed officials spent most of the summer suggesting that they would raise rates this month, only to lose confidence as signs of slowing global growth weighed on markets.
The ten-year Treasury note yield fell 0.11 percentage points to 2.189 percent. Standard & Poor's 500-stock index dropped 0.26 percent to 1,990.20.
Thirteen of the 17 officials on the Federal Open Market Committee still expect to raise the interest rates this year.
The decision was widely expected by investors in recent weeks. However, critics expressed concern that the Fed has adopted increasingly ambitious goals for its stimulus campaign.
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