US Fed Reserve to Keep Interest Rates Low Until 2014

The US Federal Reserve plans to keep key interest rates exceptionally low at least through 2014.

The US economy has been "expanding moderately," the Federal Open Market Committee (FOMC) said in a statement, noting that the unemployment rate remains high, growth in business has slowed and the housing market remains depressed.

The Fed's policy board expects to maintain a "highly accommodative stance" for monetary policy to support a stronger economic recovery.