Federal Reserve

Chair Janet Yellen and her colleagues at the Federal Reserve didn't surprise anyone when they announced Wednesday they were not raising their benchmark interest rate. Fed policymakers decided to keep the federal funds rate in a range between one-quarter and one-half percent. That's where it's been since last December when the Fed lifted the rate a quarter of a point from near zero — where it had been left for seven years as the central bank tried to support growth coming out of the Great Recession.

Updated at 4:25 p.m. ET with comments from Fed Chair Janet Yellen

The Federal Reserve Board's policymakers on Wednesday ended a two-day meeting by leaving interest rates unchanged. They cited a weaker jobs market as a key reason for taking no action.

"Although the unemployment rate has declined, job gains have diminished," the Fed said in a statement.

Federal Reserve policymakers on Wednesday will tell the world their latest plans for raising interest rates. The goal is to keep the economy on track. And right now, that is not an easy thing.

Members of the Federal Open Markets Committee track an array of sometimes conflicting data. Economists call this the Fed's "dashboard." So what are the dashboard's instruments telling us about where the economy is headed next?

Capt. Yellen's Dashboard

Kyle Stokes / KPLU

Seattle Public Schools officials may soon get their best opportunity in years to open a public elementary school downtown, and various downtown interests are now pressing district leaders to take advantage of it.

District officials submitted an application earlier this month to move into the vacant building at Second Avenue and Spring Street, which once housed a Federal Reserve Bank branch.

Federal agencies no longer want the property and are considering whether to deed the building to Seattle Public Schools practically free of charge. If the feds grant school officials' application, downtown groups want to make sure the district follows through.

Elaine Thompson / Associated Press

Home prices in the Seattle metro area in May showed their biggest monthly gain in more than 20 years, as a tight supply of homes and low interest rates drive values higher.

Until recently, interest rates were at record lows, and that’s been spurring people to jump back into the housing market after the 2008 crash. Home prices in the Seattle metro area climbed more than 3 percent in May compared with April. That’s according to the Standard and Poor’s Case Shiller Home Price Index.