US FED keeps interest rate unchanged

The U.S. Federal Reserve says it will keep the federal funds rate at historical lows of zero to zero point twenty-five percent for "an extended period" to boost economic recovery.

The Fed said in a statement on Tuesday that U.S. "economic activity has continued to strengthen and that the labor market is stabilizing."

The Federal Open Market Committee, the interest rate policy making body of the central bank, said that it will maintain the target range for federal funds and continue to anticipate that economic conditions are likely to warrant exceptionally low levels "for an extended period."

The US Federal Reserve building in Washington, DC. The Federal Reserve on Tuesday maintained its near zero benchmark interest rate, saying it expects to hold the "exceptionally low" rate " for an extended period. (AFP/File/Karen Bleier)