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The Federal Reserve will leave its main borrowing rate near zero, continuing a nine-year stretch without an increase in the aftermath of the 2008 financial crisis and ending weeks of speculation that global market turmoil would delay a hike in borrowing costs.

Fed officials have been telegraphing that they expect to start hiking rates this year to avoid inflation and the kind of asset bubbles that caused the financial crisis. But as weakness in China and elsewhere rattles investors, the expectation is now that the bank will wait until December or even the spring of next year.

The delay is likely to please liberals who've been urging the central bank to hold off on increasing borrowing costs until more Americans get raises and jobs.
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