System Preferences > Keyboard > Keyboard Shortcuts > Services > Enable New Terminal at Folder [0]
Not sure if this works in Yosemite.. 10.8.5 works fine for me currently, so not risked / bothered upgrading.
0: http://stackoverflow.com/questions/420456/open-terminal-here...
You can drag the file or folder (from the title bar or file list) icon icon into a terminal window and the path of that file/folder will be written to the command line. Not quite the same, but very useful (and a feature I often miss in Windows).
edit: I was mistaken about dragging files/folders into the Windows CLI, I was thinking about something else.
I'm a DOS guy not even PowerShell and I usually drag the folders icons to the CLI to browse directly to the location and complete the operation from the terminal ...