The US Federal Reserve announced today that it would maintain the federal funds rate in a target range of 0 to 0.25 percent. This decision was widely expected by economists and market participants.

In its statement, the Federal Open Market Committee (FOMC) noted that the economic recovery is proceeding at a moderate pace. However, the committee also acknowledged that the unemployment rate remains elevated and that inflation is subdued.

The FOMC reiterated its commitment to using all available tools to promote economic recovery and price stability. The committee stated that it would continue to monitor economic conditions closely and would be prepared to adjust its policies as needed.

The decision to hold interest rates steady was unanimous. The next FOMC meeting is scheduled for June.

Key Takeaways:

• Federal Reserve holds interest rates steady.
• Economic recovery proceeding at a moderate pace.
• Unemployment rate remains elevated.
• Inflation is subdued.