Fed Leaves Rates Unchanged

>> The Federal Reserve left a key interest rate near a record low. Policy makers said the economy is growing without inflation. They also hinted that rates will stay low for the time being as unemployment rises. Well, stocks rallied ahead of that Fed decision but lost steam by the close the Dow paired a triple digit gain to finish 30 points higher than NASDAQ dipped nearly 2. Microsoft is cutting 800 more jobs. That is on top of the 5,000 layoffs it announced in January in what was the giants first ever widespread layoffs. The Senate is close to extended unemployment insurance for people whose benefits are about to run out. It would extend benefits for as many as 20 weeks, enough to help the jobless through the holiday season. And just four months after emerging from bankruptcy, Chrysler is rolling out a new business plan and new vehicles including a midsized sedan based on a bulked up Fiat design as part of its partnership with the Italian company. It's also planning on three new Dodge cars by 2013 and new exteriors, interiors, and engines on most of its current models. That's your Money Watch. For more just head to cbsmoneywatch.com. In New York, I'm Alexis Christoforous.

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