Throughout the FOMC meeting, participants have attested that the overall economic conditions of the world's largest economy are enhancing and improving, having the staff continuing to anticipate a moderate pace of economic recovery over the next two years, reflecting the accommodative stance of monetary policy.

Plus, the staff made forecast for the unemployment rate at the end of 2011 was about the same as in its previous levels, knowing that despite the slight easing of the deteriorated labor market, still this key sector remains on delaying a full recovery from the crisis to be witnessed.

While staff made modest downward adjustments to its projections for real GDP growth in response to unfavorable news on housing activity, unexpectedly weak spending by state and local governments, and a substantial reduction in the estimated level of household income in the second half of 2009.

However, the total PCE price inflation is projected to rise slightly above predicted core inflation levels throughout this year but than will edge down once again to the same rate as core inflation forecasted to be in 2011.