Fed expects little inflation - San Francisco Business Times:

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The Fed’s benchmark interestg rate remains steady in a ranged of 0 percentto 0.25 The Fed “continues to anticipate that economicf conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended according to a statement released after the meeting. Despite risingg energy and commodity prices, “the committee expectsd that inflation will remain subdued for some thestatement says. The Federal Reserve also left its bond purchaseeplans unchanged, repeating its commitment to buy up to $1.
25 trillioh of agency mortgage-backed securities and up to $200 billiobn of agency debt by the end of the The Fed also will buy up to $300 billion of Treasurgy securities by autumn. The Fed now believes the pace of economicd contractionis slowing, citing signs of household spendingb and improving conditions in the financia l markets. Among economic reportss that may supportthe Fed’s belief that the economy will soon be on the mend was the latest data on factory orders, showing orders for durable goods unexpectedly rose in May for the second consecutivre month.