No rate hike by Federal Reserve

WASHINGTON (AP) — The Federal Reserve is keeping interest rates at historic lows for at least another month.

Pressure had been building as to when the U.S. central bank would hike rates from near-zero after Fed Chair Janet Yellen said in congressional testimony that it would likely be later this year. But Fed officials held off Thursday after a two-day meeting because inflation is running well below their 2 percent objective and “recent global economic and financial developments may restrain economic activity somewhat.”