PSYCH!

Federal Reserve Punts on Rate Hike

The Federal Reserve chose not to raise interest rates, bucking expectations that it would decide Wednesday to increase the cost of borrowing for the first time since 2006. “To support continued progress toward maximum employment and price stability, the committee today reaffirmed its view that the current 0 to 0.25 percent target range for the federal funds rate remains appropriate,” the Fed explained in a statement.