The U.S. Federal Reserve held interest rates and its monthly bond-buying program steady on Wednesday, nodding to the U.S. economy's growing strength but giving no sign it was ready to reduce its support for the recovery.
The Fed left its benchmark short-term rate near zero, where it's been since the pandemic erupted nearly a year ago, to help keep loan rates down to encourage borrowing and spending.
"Amid progress on vaccinations and strong policy support, indicators of economic activity and employment have strengthened," the U.S. central bank said in a unanimous policy statement at the end of a two-day meeting.
Nevertheless, it said "the path of the economy will depend significantly on the course of the virus, including progress on vaccinations." "The ongoing public health crisis continues to weigh on the economy and risks to the economic outlook remain," The AP cited the statement as saying.
