U.S. Federal Reserve Board

U.S. Federal Reserve Board issued a statement on the 25th that will maintain a highly accommodative monetary policy, maintaining the federal funds rate in the range of zero to 0.25 percent at least until the second half of 2014.



Federal Reserve released the day after the end of the regular meetings of the Federal Open Market Committee said in a statement, the U.S. economy has shown moderate growth in recent months, the job market can be improved, the unemployment rate declined but remained high, household consumption and business investment in fixed assets continued to grow.



The Fed believes that the real estate market, despite some improvement in the signal, but still in the doldrums. Level of inflation has increased, mainly reflecting the rally in crude oil and gasoline prices, but the U.S. long-term inflation expectations remain undecided.



The Fed believes that the next few quarters the U.S. economy will moderate growth, and thereafter a gradual improvement in the unemployment rate is expected to be gradually reduced to a reasonable level, the tension of the international financial markets still pose significant downside risks to the U.S. economic outlook.



The Fed said that in order to stimulate a strong economic recovery, will the federal funds rate to maintain ultra-low range of zero to 0.25 percent, at least until the second half of 2014. Continue to "reverse operation" was launched in September last year, that is planned to the end of June 2012, the sale of the remaining period of 3 years and less than $ 400 billion in short-term government bonds, and purchase the same number of remaining maturity of 6 to 30 years in long-term bonds to drive down long-term interest rates. In addition, the Fed will continue to be the principal of the maturity of agency debt and agency mortgage securities reinvested to buy more Fannie Mae, Freddie Mac and other agencies issued agency mortgage-backed securities.



The statement said that the Fed will regularly assess the size and composition of its balance sheet, and timely adjustments are made to stimulate economic growth while maintaining price stability.



The Federal Open Market Committee is the Fed's monetary policy decision-making body, normally meets eight times the interest rate decision-making regular meeting, the Chairman of the Committee by Federal Reserve Chairman concurrently

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