[01/28/15] The Federal Reserve gave no signal Wednesday that it's backing away from plans to raise interest rates this year, noting that it expects unusually low inflation to gradually pick up as the "transitory effects" of tumbling oil prices fade.
Disappointed investors drove down the Dow Jones industrial average 195.84 points to close at 17,191.37. "The takeaway: A Fed hike is not off the table (this year)," said Russ Koesterich, chief investment strategist at BlackRock. "And the market would like to delay that a long as it can."
In a statement after a two-day meeting, the Fed's policymaking committee upgraded its economic outlook. It cited recent "strong job...
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