Fed chooses not to raise key interest rates

In the face of a weak global economy, low inflation and shaky financial markets, the Federal Reserve announced yesterday it decided to keep U.S. interest rates unchanged.

Although the U.S. job market is stable, Fed officials are concerned global factors such as a slowdown in China could place negative pressure on already low inflation.

The announcement ends recent speculation among economists and others that it could be time to raise the historically low interest rates the Fed set at the depths of the 2008 economic downturn. Fed Chairwoman Janet Yellen, however, said a rate hike was still likely this year.

Read more from The Associated Press.