This is no big news. First, we are not in danger of runaway inflation. This is just an excuse not to raise interest rates. Truth is, the Fed is scared to death to raise interest rates in this environment. Second, they are even more scared of trying to fight deflation which we are currently still facing. To fix a problem you have to admit to it. They could start by calling it something beyond low inflation. The Fed is becoming more and more irrelevant each day.