U.S. Federal Reserve Chairman Ben Bernanke holds a news conference following a Federal Open Market Committee (FOMC) meeting in Washington D.C. on March 20, 2013. The U.S. Federal Reserve on Wednesday announced that it will keep the short-term interest rate near zero and continue its controversial assets purchase program to bolster economic growth and job creation until the economic outlook improves substantially. (Xinhua/Wang Yiou)

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U.S. Fed continues monetary easing moves to stimulate growth

WASHINGTON, March 20 (Xinhua) -- The U.S. Federal Reserve on Wednesday announced that it will keep the short-term interest rate near zero and continue its controversial assets purchase program to bolster economic growth and job creation until the economic outlook improves substantially.

U.S. economic growth expanded at a "moderate" pace following a pause late last year. Labor market conditions have shown signs of improvement in recent months but the unemployment rate remains high, the Fed said in a statement after wrapping up its two-day policy meeting of the Federal Open Market Committee (FOMC), the Fed's powerful interest rate setting panel.  Full story

U.S. Federal Reserve Chairman Ben Bernanke holds a news conference following a Federal Open Market Committee (FOMC) meeting in Washington D.C. on March 20, 2013. The U.S. Federal Reserve on Wednesday announced that it will keep the short-term interest rate near zero and continue its controversial assets purchase program to bolster economic growth and job creation until the economic outlook improves substantially. (Xinhua/Wang Yiou)

U.S. Federal Reserve Chairman Ben Bernanke holds a news conference following a Federal Open Market Committee (FOMC) meeting in Washington D.C. on March 20, 2013. The U.S. Federal Reserve on Wednesday announced that it will keep the short-term interest rate near zero and continue its controversial assets purchase program to bolster economic growth and job creation until the economic outlook improves substantially. (Xinhua/Wang Yiou)

U.S. Federal Reserve Chairman Ben Bernanke holds a news conference following a Federal Open Market Committee (FOMC) meeting in Washington D.C. on March 20, 2013. The U.S. Federal Reserve on Wednesday announced that it will keep the short-term interest rate near zero and continue its controversial assets purchase program to bolster economic growth and job creation until the economic outlook improves substantially. (Xinhua/Wang Yiou)

U.S. Federal Reserve Chairman Ben Bernanke holds a news conference following a Federal Open Market Committee (FOMC) meeting in Washington D.C. on March 20, 2013. The U.S. Federal Reserve on Wednesday announced that it will keep the short-term interest rate near zero and continue its controversial assets purchase program to bolster economic growth and job creation until the economic outlook improves substantially. (Xinhua/Wang Yiou)