The story behind the Feds decision to leave rates unchanged

Yes, the Feds kept their benchmark overnight lending rate at between zero and 0.25 percent, where it has been since December. But as always, there is much more to the story. A few things officials said and their potential impact on the economy:

The Fed completed its $300 billion program of purchasing Treasuries last month. By purchasing Treasuries, the Fed was monetizing the debt and, figuratively speaking, printing money. By putting this excess liquidity into the economy, inflation becomes more of a threat. In addition, the Feds are actually in competition with investors who purchase treasuries. A potential side effect is that
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