Fed keeps interest rates steady, closely watching global markets

The Federal Reserve kept interest rates unchanged on Wednesday and said it was "closely monitoring" global economic and financial developments, but maintained an otherwise upbeat view of the U.S. economy. "The committee is closely monitoring global economic and financial developments and is assessing their implications for the labor market and inflation," the Fed's policy-setting committee said in a statement that diminished the chances of a rate hike at its next meeting in March. The Fed remove