Saying that while "economic activity has continued to strengthen," but the "pace of economic recovery is likely to be moderate for a time," the Federal Reserve today announced it was keeping interest rates unchanged.
The target federal funds rate, the one banks use when lending to each other, will remain at 0% to 0.25%.
The Fed's Open Market Committee said in a statement explaining it decision that while "bank lending continues to contract, financial market conditions remain supportive of economic growth."
