WASHINGTON (Sept. 18, 2014) — The Federal Reserve will maintain a key interest rate at 0 to 0.25 percent for the time being while it studies data on employment and inflation, according to the latest statement from the Fed's Federal Open Market Committee (FOMC).
“To support continued progress toward maximum employment and price stability, the committee today reaffirmed its view that a highly accommodative stance on monetary policy remains appropriate,” the FOMC said Sept. 17.
Although there is sufficient strength in the U.S. economy to support improvement in the labor market, labor resources remain significantly underutilized, the FOMC said.
The committee said it would continue its close scrutiny of economic and financial developments, and also its purchase of Treasury and agency mortgage-backed securities, until the labor market improves substantially in a context of price stability.