US Fed keeps rates unchanged, sees inflation low in near-term

The central bank's decision was widely expected after a month-long plunge in U.S. and world equities raised concerns that an abrupt global slowdown could act as a drag on U.S. economic growth. * "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.