Zero interest rate policy may be bad for Wall Street but it's good for workers

Stock markets and investors may consider the Federal Reserve's decision bad news, but it's also a sign that they feel pressure on behalf of ordinary workers

It took them a day to absorb the news but by Friday investors across the world had decided that the Federal Reserve's decision not to increase interest rates was bad news. Stock markets dropped as investors absorbed the Fed's cautious tone about the world economy. But while Wall Street may not be happy, this weekend most workers should be breathing a sigh of relief.

For weeks we have been hearing from trigger happy economists and policy types, including some at the Federal Reserve, arguing that the Fed should start raising rates for the first time since the recession. Fortunately, for now at least it seems Fed chair Janet Yellen has chosen not to join this chorus. For at least another six weeks, the Fed will leave its zero interest rate policy in place.