Economic Week in Review: Fed's focus remains inflation

The week's economic news was dominated by the Federal Reserve Board, which announced Tuesday that it's keeping the target for short-term interest rates unchanged. Following the rate decision, Fed policy makers said the risk of rising inflation remains their number one worry, while they also acknowledged concerns about recent financial market volatility. In other economic news, a Labor Department report revealed weaker-than-expected productivity growth and a continued rise in labor costs. For the week, the S&P 500 Index rose 1.5% to 1,454, and the yield of the 10-year U.S. Treasury note increased 8 basis points to 4.78%.

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