The Spark

The Fed's real inflation problem

Traders in the Standard & Poor's 500 stock index options pit at the Chicago Board Options Exchange (CBOE) watch monitors in the trading pit for news to break on the Federal Reserve's decision on interest rate on September 17, 2015 in Chicago, Illinois.
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Why won't the Federal Reserve just zero in on inflation?

There were howls of protest Thursday when the central bank decided not to raise interest rates, with observers saying the Fed is just coming up with new excuses not to hike.

That's because it inserted a new line in its already rather lengthy decision statement, "Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term."

The Fed also said it will continue to be "monitoring developments abroad."