FOMC Holds Rate at 0-0.25%, Announces Inflation Target, Releases Inaugural Fed Forecasts

The US Federal Open Market Committee (FOMC) kept the fed funds rate steady at 0 to 0.25 percent. The Fed said: "To support a stronger economic recovery and to help ensure that inflation, over time, is at levels consistent with the dual mandate, the Committee expects to maintain a highly accommodative stance for monetary policy. In particular, the Committee decided today to keep the target...