Top of the Hour: Fed Will Not Raise Interest Rates, Morning Headlines

The Federal Reserve says it doesn’t expect to raise interest rates in the U.S. until late 2014. The surprise move sent the dollar sharply lower in markets, and caused U.S. government borrowing costs to fall. In its regular policy statement, the central bank says that it sees “significant downside risks” to the economy, and said inflation had fallen back to a level in line with its mandate.