The Federal Open Market Committee decided to keep its benchmark interest rate unchanged and low between 0.0% and 0.25% as what was already highly expected, knowing that the Feds still strongly believe that low rates will support the economy and help boost growth since the current recovery is still taking place at a slow and gradual pace.

In fact, the Committee attested that the overall economic activity has continued to gained momentum and that the labor market deterioration is starting to ease, while growth in household spending has currently enhanced but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit.

Plus, the housing starts improved as an overall as well but remain at a depressed level, while bank lending continues to contract, financial market conditions remain supportive of economic growth and general price pressures remain controlled.