Federal Reserve Leaves Interest Rates Unchanged

The decision was also likely influenced by China's economic slowdown, which has caused uncertainty about the state of the world economy among Fed officials.

 

"Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term," the FOMC said in a statement released at the conclusion of its two-day meeting.

 

In a press conference, following the statement's release, Yellen said "the situation abroad bears close watching," an acknowledgement of the recent flare up of volatility in global markets, such as in China.