Fed Goes Cold, on Hold

In a widely expected move, the US Federal Reserve left its benchmark interest rate unchanged overnight, forgoing the opportunity to make its first increase in more than 9 years. Instead the Fed decided to take a wait and see approach, focusing on the major domestic issue of low inflation and of course the global economic uncertainty that has sent shockwaves through world markets over the recent past to justify its decision. Other than the flagged issue of low inflation, the Fed was actually