Read the Fed statementCentral bank policy-makers hold rates steady at 5.25 percent for the sixth straight time.NEW YORK (CNNMoney.com) -- The Federal Reserve left interest rates unchanged Wednesday for the sixth straight time. Following is the text of the statement from the central bank's policy-making Federal Open Market Committee: The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent. 
Recent indicators have been mixed and the adjustment in the housing sector is ongoing. Nevertheless, the economy seems likely to continue to expand at a moderate pace over coming quarters. Recent readings on core inflation have been somewhat elevated. Although inflation pressures seem likely to moderate over time, the high level of resource utilization has the potential to sustain those pressures. In these circumstances, the Committee's predominant policy concern remains the risk that inflation will fail to moderate as expected. Future policy adjustments will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information. Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Cathy E. Minehan; Frederic S. Mishkin; Michael H. Moskow; William Poole; and Kevin M. Warsh. ---------------------------------------------------------------------------- |
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