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Fed holds rates, says economy picking up
The US Federal Reserve held its near-zero interest rate policy Wednesday and said the ailing economy had "continued to pick up" since September.
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The policy-setting Federal Open Market Committee (FOMC), headed by Fed chairman Ben Bernanke, said after a two-day meeting that "although economic activity is likely to remain weak for a time," its policy actions would support economic recovery.
The committee held the federal funds rate at zero to 0.25 percent and said it expects "exceptionally low levels of the federal funds rate for an extended period."
Copyright AFP 2008, AFP stories and photos shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium
