The Federal Reserve's Open Market Committee announced Wednesday it will keep the target range for the federal funds rate at 0% to 0.25%.
Economic conditions, including low rates of resource utilization and a subdued outlook for inflation over the medium run, are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014, the Fed said in a release.
The committee said it has also decided to continue through the end of the year its program to extend the average maturity of its holdings of securities.
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