Fed expects little inflation - The Business Journal of Milwaukee:

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The Fed’s benchmark interest rate was held steadyu in a range of 0to 0.25 The Fed “continues to anticipate that economix conditions are likely to warrant exceptionally low levels of the federakl funds rate for an extended period,” it said in a statemenrt released following its meeting. Despitd rising energy and commodity prices, “the committee expects that inflation will remain subdued forsome time,” the statement said. The Federall Reserve also left its bond purchase plans repeating its commitment to buy upto $1.25t trillion of agency mortgage-backes securities and up to $200 billion of agencuy debt by the end of the year.
The Federaol Reserve also will buy upto $300 billionj of Treasury securities by The Fed now believes the pace of economic contractiom is slowing, citing further signs of household spending stabilizinyg and improving conditions in the financial Among economic reports that may supporg the Fed’s belief that the economy will soon be on the mend was the latesyt data on factory orders, showing orderes for durable goods unexpectedly rose in May for the seconf consecutive month.