The U.S. Federal Reserve has announced its interest rate decision. The Fed, which did not change its policy rate in anticipation, kept the rate steady in the range of 0-0.25 percent.
The Fed left the federal funding rate unchanged at 0-0.25 percent, in line with expectations, following an April meeting of the Federal Open Market Committee (FOMC).
The Fed said its monthly asset purchase program, worth at least $120 billion, would continue. Economic activity and employment were strengthened, while the rise in inflation largely reflected temporary factors.