The Federal Open Market Committee decided to keep its interest rate unchanged at 0.25% with only one member of the committee voting against the decision, knowing that the economic activity has continued to strengthen and that the deterioration in the labor market is abating.

Whereas the country's household spending is expanding at a moderate rate but remains constrained by a weak labor market, modest income growth, lower housing wealth, and overall tight crediting.

In fact, the pace of economic recovery is likely to be moderate for a time, the Committee anticipates a gradual return to higher levels of resource utilization in a context of price stability along with substantial resource slack continuing to restrain cost pressures and with longer-term inflation expectations stable, inflation is likely to be subdued for some time.