Live video and analysis: Yellen explain why officials kept Fed rate near zero
Federal Reserve officials just announced they are keeping the central bank’s benchmark short-term interest rate near zero as they assess the impact of tighter financial conditions and slower global growth on the domestic economy.
The rate has not been raised for nearly nine years.
Federal Reserve Chairwoman Janet Yellen will explain why the Fed held back on raising rates at a news conference starting at 11:30 a.m. PDT. Check here for the live video of Yellen’s comments and for tweets from L.A. Times economy reporters Jim Puzzanghera and Don Lee, who are based in Washington.
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