Fed keeps interest rates unchanged near zero

The US Federal Reserve kept the interest rate between zero and 0.25% and kept the bond-buying program unchanged, in a widely expected move, despite improvement in the economy.

The Federal Reserve kept its assets purchase program at $120 billion per month, and expected it will continue until a noticeable improvement in inflation and employment rates.

The Central Bank stressed that the economy has made tangible progress in the Fed's inflation and employment targets, after the coronavirus pandemic impact.

The Fed emphasized that the recent surge in inflation is temporary, and stressed the Fed's commitment to its current dovish monetary policy.