The Federal Reserve says it will not raise its key interest rate. The last time the Fed raised rates was in December. And that was the first time in almost a decade. In a statement the Fed says economic activity appears to have slowed—despite gains in the job market. It also said growth in household spending has moderated. Even though income has rise and consumer sentiment remained high. Federal Reserve Chair Janet Yellen admitted last month that the Central Bank would move cautiously this year.