Throughoutthe FOMC Meeting the Feds decided to keep interest rates unchanged between 0.00% and 0.25% throughout at least mid-2013, where the Feds assessed that the country's economic growth during this past period continued but at a rather slower pace.
Moreover the Feds saw late economic slowdown concerns are cascading, and therefore the Feds affirmed their readiness to use additional policy tools as appropriate if the economy falters significantly.
The vote for the FOMC monetary policy action was not unanimous, as Kocherlakota, Fisher, and Plosser dissent from FOMC decision, where the Feds signaled unemployment rates are still elevated with recent indicators showing deterioration among the labor market, while inflation rates have recently moderated, where inflation expectations are mostly intact.
The Feds also citied that Benchmark rate will stay at exceptionally at a low level for an extended period almost to the mid-2013, where the Feds will continue monitoring economic conditions and economic developments to help ensurethe inflation and employment are at levels consistent with its mandate. The Fed will also continue reinvesting maturing mortgage and treasury securities.