FOMC holds rates, says 'it can be patient'

The Federal Open Market Committee decided on Wednesday 28 January to keep its target for the federal funds rate at 1 percent. The FOMC stated that it believed "it can be patient in removing its policy accommodation".

The Committee continues to believe that an accommodative stance of monetary policy, coupled with robust underlying growth in productivity, is providing important ongoing support to economic activity. The evidence accumulated over the intermeeting period confirms that output is exp